Oklahoma Earthquakes links of Interest – OKLAHOMA BECOMES #1 STATE IN EARTHQUAKES – 780+ 2014 – BAN FRACKING!




Animation of Oklahoma Seismicity: January 2, 2008 – June 25, 2014




Recent Earthquake Near Oklahoma, United States






Did You Feel It?  Report Felt Earthquakes Here




Oklahoma Grapples With Earthquake Spike—And Evidence of Industry’s Role

Spike in seismic activity is linked with oil and gas wastewater disposal.



Man-Made Earthquakes Are Changing the Seismic Landscape

Scientists say fracking is part of why Oklahoma now rivals California in quake activity.



Oklahoma is becoming a hotbed for earthquakes, and this special coverage page maps out every earthquake that happens in Oklahoma.




Oklahoma earthquakes highlight an inconvenient truth about innovation



Fracking Fears Grow as Oklahoma Hit by More Earthquakes Than California



2,500 Oklahoma Earthquakes Linked To Fracking, Scientists Say



11 earthquakes hit fracking-heavy central Oklahoma over weekend



Oklahoma Earthquake Swarm Spurs Fracking Wastewater Disposal Debate







Oklahoma Grapples With Earthquake Spike—And Evidence of Industry’s Role

Chad Devereaux works at cleaning up the bricks that fell from three sides of his in-laws home in Sparks, Okla., Sunday, Nov. 6, 2011, after two earthquakes hit the area in less than 24 hours.

Bricks fell from three sides of this home in Sparks, Oklahoma, after two earthquakes hit the area in less than 24 hours in November 2011.


Joe Eaton

for National Geographic


Customers who stop by Mike Kahn’s insurance agency in Oklahoma City are increasingly looking to buy a policy that was unheard of a decade ago: earthquake insurance.

Kahn, who opened the Lynnae Insurance Group in 2002, said he sold earthquake coverage to two homeowners during the first decade he was in business. During the past six months, he sold more than 125 policies.

“We used to get to that part of the policy, and I’d tell customers, ‘You don’t need that. This is Oklahoma,'” Kahn said, referring to the days when earthquake coverage was an add-on to a homeowner policy. “We used to laugh about it.”

But much has changed in Oklahoma, which leads the continental United States in earthquakes so far this year. From 1978 to 2008, Oklahoma experienced an average of one earthquake a year of magnitude 3 and higher, according to the U.S. Geological Survey. As of last week, the state experienced 258 earthquakes in that range, almost twice as many as California.

A growing body of research has tied the spike to wastewater injection, a process in which water from oil and natural gas extraction, including fracking, is pumped into underground wells for disposal. Research has also tied wastewater injection to quakes in Arkansas, Colorado, Ohio, and Texas.

But none of those states have seen as many earthquakes as Oklahoma. Because the oil and gas industry is a major employer in the state, the possibility that drillers might be responsible for the earthquake surge has put industry on the defensive and residents on edge, while sending state and local governments scrambling to respond. (Related: “Scientists Warn of Quake Risk From Fracking Operations.”)

“The anger is palpable,” said John Wood, a member of the city council in Guthrie, Oklahoma, a small city near the epicenter of a 4.3 magnitude quake that struck in mid-July, one of seven earthquakes that hit in the state in a two-day period. “Our bread and butter is oil and gas, so we have been very slow to question the industry on quakes. But it’s becoming a daily occurrence.”

Map of earthquake frequency in Oklahoma from 1990- July 28, 2014.


Although the majority of the quakes have been harmless, they range from temblors that are barely felt to a 5.7 magnitude quake in 2011 that damaged homes. People can feel vibrations of a magnitude 3 temblor. A magnitude 4 quake feels like a heavy truck striking a building. At magnitudes 5 to 6, according to the USGS, dishes break, heavy furniture moves, chimneys fall, and a poorly built home can sustain serious damage.

Map of earthquake magnitude in Oklahoma from 1980-2014.


Energy Industry Link?

The surge in Oklahoma earthquakes dates to 2008, and a recent study published in the journal Science bolstered the theory that they have been spurred by injecting wastewater produced during oil and gas development, including fracking, deep into underground wells.

Katie Keranen, a Cornell University seismologist and lead author of the study, also published a 2013 study in the journal Geology that tied wastewater injection to the largest earthquake in Oklahoma history, a magnitude 5.7 earthquake that in 2011 struck the town of Prague, in central Oklahoma. (Related: “Scientists Say Oil Industry Likely Caused Largest Oklahoma Earthquake.”)

Despite the growing evidence, Chad Warmington, president of the Mid-Continent Oil and Gas Association of Oklahoma, said it’s too early to know if injection wells are responsible or if the rise in earthquakes is part of a natural cycle.

“There is going to be studies that say lots of things,” Warmington said of Keranen’s latest findings, adding that the oil and gas industry is working with regulators and scientists to share data and make sure they are not putting citizens at risk. “We are concerned about it because we live here, but we don’t want to have a knee-jerk reaction and have a bunch of regulation put on us that is not effective in minimizing the risk of seismic activity.”

The Oklahoma Corporation Commission, the state’s oil and gas regulatory agency, also says a direct link between wastewater injection and the rise in earthquakes in the state could not be established.

Ernest Majer, a geophysicist and induced seismicity expert at the Lawrence Berkeley National Laboratory in California, said injection wells rarely cause earthquakes. Majer said the oil and gas industry is as interested as scientists are to learn what conditions cause induced earthquakes and how to prevent them, with an eye toward avoiding increased regulation.

“The great majority are waking up to the question: Do they want to be regulated, or do they want to have best practices to follow?” he said.

Concern for Bridges, Property

As scientists, regulators, and the oil and gas industry search for the causes of the earthquake spike, Oklahoma’s state and local governments have begun adjusting to the new seismic reality.

The state began dispatching crews to inspect bridges after magnitude 3 and higher earthquakes in 2010. The department recently changed the inspection level to magnitude 4 and over, after consulting with California officials about earthquake response policies, according to Terri Angier, a spokesperson for the Oklahoma Department of Transportation.

Although Oklahoma is consistently ranked at or near the bottom of lists ranking the country’s worst bridges, Angier said inspectors have found only minor bridge damage after earthquakes. But she is concerned about the future and the potential for larger seismic events: “If there is a crisis for us, it’s that we’re not sure where it’s headed.”

That concern is echoed in Oklahoma City. Kristy Yager, a spokesperson for the city, said officials are updating the city’s disaster plan, which focuses heavily on the tornadoes that traditionally plague the state, to prepare for earthquakes.

So far, residents have been concerned primarily about the potential for property damage, Yager said, adding that Oklahomans are worried about the prospect that the oil and gas industry might be responsible for the earthquakes.

“We hope it’s not a byproduct of oil and gas because so many of our jobs depend on it,” Yager said. “It’s a difficult position to be in.”

Photo of a drilling rig near Highway 33 and 74 south of Crescent, Oklahoma.

The injection of wastewater from oil and gas development has been linked with the uptick in Oklahoma quakes, but some in industry and government question the connection.

Uncertainty in Forecasting

Despite the uptick in Oklahoma seismicity, a recently updated USGSearthquake hazard map does not reflect an increased threat for dangerous quakes in the state. That’s because the map, which is updated every six years, does not take into account earthquakes suspected of being induced by wastewater injection or other human activity.

Although Oklahoma is leading the lower 48 states in earthquakes so far in 2014, it is not included among 16 states the USGS says are at the highest risk for hazardous earthquakes.

Austin Holland, a seismologist at the Oklahoma Geological Survey, thinks the state’s earthquakes should be included in the USGS hazard map, which is used to set standards for seismic safety in building codes.

“By removing them,” he said, “we are underestimating the potential of serious seismic hazard in Oklahoma.”

But scientists at USGS say it’s difficult to predict future earthquake hazard based on recent temblors that may have been induced by the oil and gas industry.

William Ellsworth, a research geophysicist at the USGS Earthquake Science Center, said his organization uses knowledge of faults and data from earthquakes that occurred over thousands of years to develop hazard maps. The organization set aside earthquakes suspected of being induced by the oil and gas industry because it is unclear why they are occurring and how long they may continue.

If earthquakes are caused by a specific injection well, for example, and the oil and gas industry stops using that well, the seismic activity would likely stop, Ellsworth said, thereby ending the hazard.

Nonetheless, Ellsworth said the USGS is developing a hazard model that takes induced earthquakes into account. “Everyone here thinks quakes, regardless of origin, need to be accounted for in our hazard model,” he said.

So far, the largest impact of the Oklahoma quakes might be on the insurance industry. Kelly Collins, a spokesperson for the Oklahoma Insurance Department, said the number of homeowners in the state with earthquake coverage has risen from around 3 percent in 2011 to 15 percent in 2014, according to an informal survey of the top five insurance companies.

In Oklahoma City, insurance agent Mike Kahn recently bought an earthquake policy after quakes knocked a piece of facade from his home and twice crumbled a neighbor’s chimney. The policies have a 10 percent deductible, so they are meant for a quake far larger than what Oklahoma has seen in recent years.

And that prospect, Kahn said, is the fear.

“It’s scary when they happen in the middle of the night,” he said. “It’s a weird feeling to feel your house shaking. Your heart is racing, you are running down the hall to check on your kids, then you run back and check on your wife. They make your heart skip.”

The story is part of a special series that explores energy issues. For more, visit “The Great Energy Challenge.”

SOURCE: http://news.nationalgeographic.com/news/energy/2014/07/140731-oklahoma-earthquake-spike-wastewater-injection

‘The Corrupt Fear Us!’ Massive Anonymous ‘Million Mask March’ as it happened (PHOTOS, VIDEOS)

‘The Corrupt Fear Us!’ Massive Anonymous ‘Million Mask March’ as it happened (PHOTOS, VIDEOS)

Published time: November 06, 2013 15:18
Edited time: November 06, 2013 22:42

The Million Mask March is heading to the Capitol in Washington, D.C. (Image from twitter user‏@BatmanWI)The Million Mask March is heading to the Capitol in Washington, D.C. (Image from twitter user‏@BatmanWI)

Thousands of people worldwide joined Million Mask March rallies organized by the amorphous Anonymous movement. Rallies, both peaceful and confrontational, protested austerity, surveillance, corporate greed and corrupt governments.

In a mass demonstration of people power, crowds in 450 cities around the world filled the streets wearing Guy Fawkes masks.  “The corrupt fear us. The honest support us. The heroic join us” – under this motto protesters united in a global mass-march to deliver various messages.

From Sydney to Los Angeles, from Johannesburg to London – thousands came forward to make their voices heard. Among key ideas which virtually connected all different protests were anti-capitalist idealism and the rejection of NSA surveillance. Some rallies had a sense of carnival, where whole families with kids marched in protest, while other gatherings – like in London and Washington – turned more intense, with people not hiding their rage.


Images from twitter users@Slmztfn @kurtizz01 @ConvIntImages from twitter users@Slmztfn @kurtizz01 @ConvInt


RT’s Sara Firth, reporting from inside the march in central London, found herself in the thick of it – squeezed in between more than 1,000 protesters and large cordons of police.

Chanting “Here we come, Tory scum!” protesters smashed police barriers along their way from Parliament Square to Buckingham Palace, where some of the masked protesters even managed to climb on top of the palace gates and throw a firework at the palace itself.


A scene from outside Houses of Parliament, London. (Image from twitter user@TheBlogPirate)A scene from outside Houses of Parliament, London. (Image from twitter user@TheBlogPirate)


Among the crowds was comedian Russell Brand, a noted supporter of Anonymous and the Occupy movement, who was wearing an Anonymous mask on top of his head. Brand, who recently called for a“socialist, egalitarian” revolution in an interview with the BBC and called for people not to vote for any of the current mainstream UK political parties, was mobbed by enthusiastic supporters outside the Houses of Parliament. Some commentators have even suggested that Brand could lead the Anonymous group – a controversial concept, as the movement has prided itself on being leaderless and spontaneously organized from below.


Russel Brand (Image from twitter user@waleed_elhaddad)Russel Brand (Image from twitter user@waleed_elhaddad)


In an article Brand wrote for The Guardian hours before taking part in Tuesday’s demonstration, he insisted that he was not looking to lead a movement, but simply to participate.

“Luckily with organisations like them, Occupy, Anonymous and The People’s Assembly I don’t need to come with ideas, we can all participate,” Brand wrote. “I’m happy to be a part of the conversation, if more young people are talking about fracking instead of twerking we’re heading in the right direction.”

Separate UK protests coincided with the Million Mask March in London, with demonstrators rallying against growing austerity measures in the country. Britain’s Green Party called on anyone who is opposed to the “heartless” cuts instituted by Prime Minister David Cameron’s government to join in a rally on Westminster Bridge. Green Party spokesman Romayne Phoenix echoed many of the same complaints lobbed by Million Mask Marchers.

“This heartless government’s austerity measures have hurt the poor thirteen times harder than the rich,” he said. “They’ve slashed funding for vital public services, cut away the social safety net of benefits and seem determined to hammer the final nails in the coffin of the National Health service, an institution this country is proud of. At the same time they’ve let the banks ratchet up huge profits, allowed train operators to continue to rip-off customers and defended the energy companies whose soaring prices are forcing many people to choose between food and heating.”

As the evening wore on in London, protesters lit up the sky with fireworks – a traditional Guy Fawkes Day celebration – across the street from the Houses of Parliament, while some danced and at least one person held a banner in praise of RT host Max Keiser, who presents his cult, anti-bankster program from the city.


A protester wearing a Guy Fawkes mask stands in front of a line of riot police officers during a protest against budget cuts and energy prices in Westminster, central London, November 5, 2013. (Reuters / Andrew Winning)A protester wearing a Guy Fawkes mask stands in front of a line of riot police officers during a protest against budget cuts and energy prices in Westminster, central London, November 5, 2013. (Reuters / Andrew Winning)


While the London event was mostly about protesting government austerity measures, American activists had the NSA’s invasive surveillance methods near the top of the agenda.

Major crowds marched through Washington DC, claiming ownership of the streets they were passing.“Whose streets? Our Streets!” they were chanting, blasting against American inequality.


Demonstrators, including supporters of the group Anonymous, march in a protest against corrupt governments and corporations in front of the White House in Washington, DC, November 5, 2013, as part of a Million Mask March of similar rallies around the world on Guy Fawkes Day. (AFP Photo/Saul Loeb)Demonstrators, including supporters of the group Anonymous, march in a protest against corrupt governments and corporations in front of the White House in Washington, DC, November 5, 2013, as part of a Million Mask March of similar rallies around the world on Guy Fawkes Day. (AFP Photo/Saul Loeb)


The Washington rally began near the Washington Monument and several protesters were detained along the way for stepping off the sidewalk into the street. The marchers made a detour to the Federal Reserve building, chanting ‘End to Fed!’ but their final destination was the White House. The protesters spent several hours calling for Obama to step out and explain himself.

“Five years after the financial crisis and banks being bailed out, we’re still suffering. People are drowning in debt. We live in a country that is fundamentally unfair, we no longer have the rule of law,” a participant smartly dressed in an Anonymous mask, plus a suit and tie, told RT correspondent Gayane Chichakyan in front of the White House.

“From the NSA, to Edward Snowden, to Chelsea Manning, all over the world, people are speaking out, whistleblowers are speaking out, regular people are speaking out and saying enough is enough. We want justice and we want it now.” 

At the culmination of the event, protesters exercised their right to freedom of expression by burning the American flag – right in front of the White House, in a sight more usually associated with countries such as Iran or Pakistan.


Images from twitter users@apblake @OccupyWallStNYCImages from twitter users@apblake @OccupyWallStNYC


On the West Coast, crowds marched through downtown Los Angeles to show their solidarity with the movement. Many of them have links with the Occupy Wall Street movement, born two years ago. “If they won’t let us dream, we won’t let them sleep!” some of the placards promised, while others told it tell straight off: “It’s a good day for a revolution!”

South America also joined in the global protests. Several hundred protesters blocked off roads in Brazil’s central Rio de Janeiro and Sao Paolo, marching against government corruption.

“We want to change this corrupt system,” Eron Morales de Melo, a veteran protester dressed as Batman told AFP. “We are paying high taxes and this doesn’t get invested in education. We don’t have good healthcare, public security is precarious, as is public transport.”


A man disguised as super hero Batman takes part in a demonstration for the Guy Fawkes World Day in Rio de Janeiro, Brazil on November 5, 2013. (AFP Photo/Christophe Simon)A man disguised as super hero Batman takes part in a demonstration for the Guy Fawkes World Day in Rio de Janeiro, Brazil on November 5, 2013. (AFP Photo/Christophe Simon)


Hundreds protested in Australia’s Sydney, Melbourne and Brisbane.  One of the Australian rally participants told ABC News that the non-centralized nature of Anonymous made it difficult to pinpoint an exact message behind the global rally.

“There’s so much that goes on in our world, and with Anonymous, because there’s so many of us, it’s really hard to have an orderly or structured discussion, rally or march on one point. So it’s probably best that we just incorporate all of them.”

Australia itself has been targeted by Anonymous recently over reported spying on Indonesians. Hackers calling themselves Anonymous Indonesia defaced some 200 websites with the .au domain in a gesture of protest.


Protesters wearing Guy Fawkes masks display placards during a rally outside the House of Representatives in suburban Quezon city, north of Manila on November 5, 2013. (AFP Photo/Jay Directo)Protesters wearing Guy Fawkes masks display placards during a rally outside the House of Representatives in suburban Quezon city, north of Manila on November 5, 2013. (AFP Photo/Jay Directo)


Indonesia, meanwhile, also had a masked protest on Guy Fawkes Day. Anonymous Philippines marched to Batasang Pambansa complex Tuesday noon to protest rampant corruption in the country. Police officers briefly blocked the march after it gathered along Quezon City Circle, but later allowed them to proceed to the vicinity of the House of Representatives.

Several dozen demonstrators rallied at the Nelson Mandela Square, a popular shopping center in Johannesburg, South Africa, as part of the Million Mask March. According to the 2012 Transparency International Corruption Perceptions Index, South Africa ranked 69th out of 176 countries. Organizers of the rally put corruption and tax fraud on top of their agenda.

In Japan, the Guy Fawkes-themed action had an environmental twist, as masked activists conscientiously made their contribution to cleaning the streets by picking up litter.

The global action on November 5 is Anonymous’ annual celebration of Guy Fawkes Day, a British holiday commemorating the most prominent member of the failed Gunpowder Plot, a 1605 attempt to assassinate King James I of England by blowing up the Houses of Parliament. The plotter and his facial likeness in particular have come to symbolize the fight against tyranny for the Anonymous hacking collective.


Demonstrators, including supporters of the group Anonymous, march in a protest against corrupt governments and corporations in front of the White House in Washington, DC, November 5, 2013, as part of a Million Mask March of similar rallies around the world on Guy Fawkes Day. (AFP Photo/Saul Loeb)Demonstrators, including supporters of the group Anonymous, march in a protest against corrupt governments and corporations in front of the White House in Washington, DC, November 5, 2013, as part of a Million Mask March of similar rallies around the world on Guy Fawkes Day. (AFP Photo/Saul Loeb)



 Police arrest a protestor during a march against corrupt governments and corporations organized by supporters of the group Anonymous, in front of the White House in Washington, DC, November 5, 2013, as part of a Million Mask March of similar rallies around the world on Guy Fawkes Day. (AFP Photo/Saul Loeb)Police arrest a protestor during a march against corrupt governments and corporations organized by supporters of the group Anonymous, in front of the White House in Washington, DC, November 5, 2013, as part of a Million Mask March of similar rallies around the world on Guy Fawkes Day. (AFP Photo/Saul Loeb)



A man wears Guy Fawkes mask taking part in a demonstration for the Guy Fawkes World Day in Mexico City on November 5, 2013 (AFP Photo/Yuri Cortez)




Support The Truckers #T2SDA – Video/Info

East Bound & Down!! >> Watch the video I made to Support The Truckers #T2SDA:


In the news

Ride For The Constitution Trucked Protest Is Full Speed Ahead 10,000 Truckers Expected In DC

Please follow & retweet! #FF @T2SDA — Support our patriot Ride for the Constitution truckers!!! #T2SDA

Articles and information

NEW TRUCKER’S SITE : http://ridefortheconstitution.org/

Trucker Shutdown — Oct.11th-13th http://ridefortheconstitution.org/tru…

D.C. CLOTHESLINE http://dcclothesline.com/2013/09/23/f…

California Truckers shut down https://www.facebook.com/caltruckers

1 Million Truckers to DC https://www.facebook.com/1MillionTruc…

Canadian truckers to shut down https://www.facebook.com/pages/Canadi…

Truckers to Shut Down America’ viral meme keeps moving http://www.overdriveonline.com/trucke…

Canadians To Join American Trucker Strike http://www.westernjournalism.com/cana…

One Million Truckers’ ride to restore Constitution next month

Truckers Ride For The Constitution https://www.facebook.com/ridefortheco…

Truckers be on the CB radio at truck stops passing the word. Not all company drivers have internet access
resource: http://freedomoutpost.com/2013/09/1-m…

Huffington Post Article: http://www.huffingtonpost.com/2013/09…

You Tube videos
BIG RIGS STOP HAULIN’ ~ ROLLIN’ INTO D.C.!!!, by TheTruRae http://www.youtube.com/watch?v=TjJ2S6…
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AVN | 1 Million Truckers Strike to send Obama & Washington a Message, by AmericasVoiceNow http://www.youtube.com/watch?v=KGDvl6…
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Truckers To Shut Down America Protest FB Page Inaccesible Sep 23 6pm ET, by WTFRLYDOTCOM http://www.youtube.com/watch?v=Ttp6A9…
US Truckers To Shut Down America Headed to DC Instead To Protect Your Rights!!, by TheFaceinthrclouds http://www.youtube.com/watch?v=LhwcDX…
Truckers to shut down DC on Oct 11 13. by RandomActUpMedia http://www.youtube.com/watch?v=T4cuM7…
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Alabama https://www.facebook.com/alabamatruckersridefortheconstitution
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�California https://www.facebook.com/caltruckers
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�Connecticut https://www.facebook.com/pages/New-England-Truckers-Shutdown-DC/157578657783015
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�Illinois https://www.facebook.com/pages/Illinois-Truckers-Ride-for-the-Constitution/1393580210873605
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�Iowa https://www.facebook.com/pages/Iowa-Truckers-Ride-for-the-Constitution/523983704358422
�Kansas https://www.facebook.com/KansasTruckersToShutDownAmerica
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�Maine https://www.facebook.com/pages/New-England-Truckers-Shutdown-DC/157578657783015
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�Michigan https://www.facebook.com/Michiganshutdown
�Minnesota https://www.facebook.com/pages/Minnesota-Truckers-Ride-for-the-Constitution/310712209071591
�Mississippi https://www.facebook.com/mississippitoshutdown?ref=ts&fref=ts
�Missouri https://www.facebook.com/pages/Missouri-truckers-to-shut-down-America/194917724022733
�Montana https://www.facebook.com/Idahotruckershutdown?ref=hl
�Nebraska https://www.facebook.com/pages/Nebraska-Truckers-Ride-for-the-Constitution/412260752209534
�Nevada https://www.facebook.com/nevadarideforconstitution?hc_location=stream
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�New York https://www.facebook.com/pages/New-York-Truckers-to-Dc/632653943422091
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�North Dakota https://www.facebook.com/pages/North-Dakota-Truckers-Ride-for-the-Constitution/458885164225091
�Ohio https://www.facebook.com/ohiotruckerstoshutdown
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�Utah https://www.facebook.com/UtahTruckersRide
�Vermont https://www.facebook.com/pages/New-England-Truckers-Shutdown-DC/157578657783015
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�Wisconsin https://www.facebook.com/pages/Wisconsin-Truckers-To-Shut-Down-DC/162309133976846

New England: https://www.facebook.com/pages/New-England-Truckers-Shutdown-DC/157578657783015

For complete list visit


The End of Economic Slavery Has Arrived – Scott Mowry


The End of Economic Slavery Has Arrived

Scott Mowry, Miracles and Inspiration, Aug. 31, 2013


• Global Debt Discharged as of July 1, 2013

• James McBride of DivineProvince announces human race has been released from bankruptcy

• Pope releases game-changing Apostolic Letter

• Numerous resignations forthcoming including Fed Chairman Bernanke, Homeland Security Chief Napolitano and much more

For more news stories see our News Archives

Our world continues its inexorable march towards total and complete freedom.

As we had anticipated, humanity is throwing off the chains of slavery and finding itself being liberated at a truly astonishing rate. A miraculous process continues to unfold where we are seeing very tangible results coming forward into the public consciousness, despite a massive mainstream news media blackout.

Almost every other day some new, amazing development emerges to positively confirm major and dramatic changes are upon us as never before. The momentum of these successive events is building to such a fever pitch, the end result will be a great shift of the paradigm which we call our reality. This shift is absolutely inevitable now.

What we now see developing in our world is the return of personal power within each and every one of us. This power comes from the understanding and recognition we are completely sovereign beings with God-given, unalienable rights which no man, government nor corporation can put asunder. Those unalienable rights include “Life, Liberty and the pursuit of Happiness” as laid down by our Founding Fathers in the great document known as the Declaration of Independence.

Regrettably, those God-given rights have been under attack ever since the Founding Fathers established our great nation. Through a slow and methodical campaign by theCrown of England (the City of London)the international banking cartel and the Vatican, we have witnessed the tables turned to a point where America has become a virtual police state and our rights have been ground into the dirt.

Although many assume the United States of America is a “free” country, the actions of our government, the political elite, the wealthy aristocracy and the multi-national corporations over the last 140 years belies the ideals of freedom as envisioned at the birth our nation. The words of German politician and writer, Johan Wolfgang von Goethehave never rang more true: “none are more hopelessly enslaved than those who believe they are free.”

The United States and the entire world remain controlled by one very key tool of enslavement ––  the availability of money. And nearly all the money in the world today has been reduced to mere worthless paper, or fraudulent numbers upon a bank’s computer screen.

To that end, the world economy and its many currencies have been systematically hijacked and are now solely based upon the foundation of debt. In fact, debt is the engine which drives our global economic system and without the debt/credit relationship, the world economy as it is currently constituted, would cease to function.

Thus we have reached a most critical point in the modern world history where a debt-based economy and its related fiat currencies simply must go. Neither can sustain themselves any longer nor do they adequately serve the needs of a rapidly evolving human race. In their place must come a wholly new system based upon lasting value, sustainability and fairness for all.

And that is precisely what is happening at this very moment.

A very determined effort from a contingent of brave, noble people and alliances is working feverishly behind the scenes to transform our world economy for the better. And now, we are seeing the results coming out into the open in a series of historic steps which are unfolding. Ultimately there will be an unveiling of many landmark initiatives such as the Global Currency Reset, the World Global Settlements, the Global Collateral Accounts and the Restoration of the Republic, among many others.

It is truly remarkable to behold all of which is occurring in our world.

The year 2013 has already been one of the most historic and revealing years in the history of mankind. And we still have a whole quarter left to go. The amount of revelations which have come from heretofore secret societies and clandestine institutions has been nothing short of staggering.

As we dive further down the proverbial rabbit hole to uncover an understanding much more closely resembling a truth, we find the same story repeating itself again and again. That story is –– all roads lead to Rome. The Roman empire of Constantine, Cesar, etc. never really went away. It just moved into the Vatican and has remained there ever since to rule over the entire world in secret, hidden to nearly everyone on the planet.

Nonetheless, the Holy Roman Empire finally began the process of seriously unraveling on the date of February 11, 2013 when Pope Benedict XVI announced he would be stepping down as of February 28th due to health concerns. This marked the first time in 700 years a sitting Pope voluntarily chose to leave office rather than being forced out.

Who says lightning doesn’t strike twice? Two lightning bolts strike the Vatican on February 11, 2013.

Later, during the very same day at 6 PM local Vatican City time,lightning struck the very symbol of Vatican control, St. Peter’s Basilica, not once but twice. As it turns out, these lightning bolts were very foreboding signs of even more amazing developments yet to come out of the Roman empire.

Within days of the Pope Benedict’s announcement, it was revealed an arrest warrant had been issued against him for crimes against humanity. On February 15, the Vatican revealed Pope Benedict would lead a quite life in retirement residing in a convent within the walls of Vatican City. In essence, the Vatican proclaimed it will protect him from any or all prosecution regarding the ongoing pedophilia and sexual abuse allegations against numerous priests and other members within the Catholic church umbrella.

On March 13, 2013, the famous white smoke arose from the chimney of the Sistine Chapel to signify a brand new Pope had been chosen, Jorge Mario Bergoglio, a Jesuit Archbishop no less, from Argentina, who decided upon the name of Pope Francis.

Almost immediately, the new Pope seemed intent on displaying a much different public profile than his predecessors when he returned back to pay his hotel bill, chose not reside in the lavish Papal apartment and to take the bus rather than luxurious limousines. Then, on Easter Sunday, March 29, 2013, in an surprising break from tradition, Pope Francis went to a youth prison to wash the feet of Muslims and atheists in an emulation of Jesus washing the feet of his disciples.

On June 3, 2013, yet another surprising resignation rocked the Catholic Church when the second most powerful man in the Vatican hierarchy, Secretary of State Cardinal Tarcisio Bertone, walked away from his post, as well. Once again rumors persisted an eventual arrest warrant was awaiting Cardinal Bertone too.

News emanating from the Vatican then took yet another noteworthy turn on July 25, 2013. Jaemes McBride of DivineProvince.org, the de jure Postmaster General of North America, held a special free live webinar. He proceeded to make a number of amazing announcements regarding the world economic condition and the Vatican, which has thus far gone unrecognized by the mainstream media. (See video archive below.)

Shift Happens! ~ July 25, 2013

“We’re seeing that there is this shift that is happening. We made it, that we won. We’ve been fighting for years to discharge the debt. And we did that,” he stated on the live webinar. “As of July 1, 2013, we do have global debt forgiveness. All the accounts and claims have been settled,” he added.

For years, Mr. McBride and others have been negotiating with Vatican and the Crown of England to release the burden of world-wide debt from the people of th world. He claims he was able to accomplish this feat by obtaining the coveted Seal of St. Peter from the Vatican which gives him authority to effect changes to the laws.

Divine Province has also gained control of the Global Estate Trust, “previously held by the Vatican and the Crown by default, having successfully assumed control and claim of the commission and powers of the Apostle Peter without challenge for centuries”.

The Divine Province: Birthing New Earth book

Mr. McBride also revealed he was given confirmation of the discharge of the debt by the Chinese elders who have been an integral part of the Global Currency Reset about to be implemented.

According to Mr. McBride, although the global debt discharge became official on July 1st, the world rulers requested a three year period until the old system is completely fazed out.

“There is a transitional window. The powers that be and the banks and everything have a window to make this transition so as not to excite chaos,” he explained. “They have a three year window that they plan to exploit.”

However, Mr. McBride was adamant this three year window was simply an arbitrary number which can be severely reduced by the awakening of the people of the Earth to the truth through a process of education and awareness.

Here is further information about Divine Province and Jaemes McBride from one of their sister websites, www.divineprovinceminnesota.org:

“Divine Province and Jaemes McBride, along with the labors of all who are committed and passionate for freedom and Natural Law, have broken the spell and power of the Vatican and Crown (City of London), and its presumptuous claim on the land and assets of the world as being under their sole and ultimate control, being managed by its structured hierarchy (which extends down to governors, cities, and towns worldwide).

The Vatican and Crown established the thoroughly incorporated, international commercial system throughout the world that has severely debilitated justice, governments, and the People’s wealth, power, and standing; by holding and controlling their divine estates in bankruptcy/dishonor, covertly treating them as lifeless subjects under commerce and numerous debilitating presumptions and adhesion contracts, and exploiting them and their souls as chattel for trade and profit.” (Also see Jaemes McBride’s & Ed Rychkun’s book “The Divine Province: Birthing New Earth” for much more detailed information. Also linked here.)

A Rare 20/20 Interview with James McBride

Within a short period of time of the global debt discharge, even more dramatic world events began to unfold in rapid succession.

On July 11, 2013 a new Apostolic Letter was issued by Pope Francis. Effectively, this letter states all immunity for anyone under the auspices of the Roman Curia including not only priests and bishops but world leaders, political figures, government officials, judges, lawyers, etc., officially ends on the date of September 1, 2013.

In essence, this letter states any or all of these parties can be held accountable and sued for war crimes or crimes against humanity. Although, given their long history of malfeasance, it would be unwise to assume the Pope and the Vatican will be politely stepping aside as their numerous crimes are revealed to the world’s people.

Nevertheless, beginning on September 1, 2013, we may begin to see a degree of profound changes unfold in both the US and throughout the world. It is no coincidence that Federal Reserve Chairman Ben Bernanke has announced his resignation effective on that particular date. As has Federal Reserve Board Governor, Elizabeth A. Duke andHomeland Security Secretary, Janet Napolitano, both of whom be resigning on September 1st.

In addition, numerous other resignations of priests, bishops and clergymen have also been quietly announced for September 1st. We can expect to see more resignations forthcoming from many other public officials in the very near future.

James McBride of Divine Province on As You Wish Radio August 10th, 2013

“The truth shall set you free, but first it may piss you off,” it has been said. Frankly, the truth is hard to come by.

Admittedly, there is no real accurate historical account of how the world found itself in such a desperate state of enslavement to the Vatican, as it has been so well concealed. It is safe to say it has been accomplished by a very meticulous, elaborate and devious plan in order to bring the entire world under the Vatican’s collective thumb. Therefore, to tell the story it is necessary to piece together a wide variety of information from a number of sources. And these sources don’t always agree.

With an economic system based upon debt and a worthless fiat currency, where does the value of the US dollar come from? Many will be shocked to learn the truth behind how our financial system has been set up and has operated since the official implementation of the privately owned Federal Reserve in 1933.

The short answer is the value for our money is obtained directly from you and all Americans who have been born in the US since the 1930′s. The value is drawn from our life force, our good will as consumers, spenders, wage earners and taxpayers. Thus, we can see where a term such as “human resource” figures into the equation.

Our life force is represented by one very important document which is then used as an instrument of value to back up the worth of the US dollar and to act as collateral against the fraudulent, illusionary US debt. That instrument of value is the birth certificate.

Naturally, this system has been instituted very slowly over many years in a strictly covert fashion. It has relied upon the ignorance and low level of consciousness by the people in order for it to take root. And it begins at the moment of birth and entangles us until our last breath upon this Earthly plane.

When parents sign off on a birth certificate for their new born child, they are authorizing him or her to be entered into the system as a bona fide debt slave. At the same time, each of us is issued a line of credit sanctioned by the world-wide economic system and ultimately controlled by the Vatican.

That credit amounts to anywhere from hundreds of thousands to millions of dollars within the confines of the system and only accessible via a financial institution, insurance agent, public utility, medical care provider, etc.

Your birth certificate, in turn, is tied to your social security number and becomes the method by which the banks draw upon to establish a line of credit when you come of age to open a bank account, a credit card, apply for a home loan, car loan and/or educational loan, etc. In fact, nearly every business relationship you enter into with a corporation, whether it is a cell phone contract, cable TV, telephone, electrical power, water service, insurance, health care, loan, traffic ticket, lawsuit –– you name it –– all tap into the same credit system.

In effect, these banking institutions are lending you your own credit and then charging you an exorbitant amount of interest for the use of it. If you default on a loan, the banks or the corporations then have the legal right to confiscate your home, property, car, etc. or take you to court for payment.

All of this is accomplished because the Vatican believes it has been bestowed the Divine right through the Papal bull to have dominion over all land, property, valuables and even your own body and your children through their possession of the birth certificates. In their eyes, the people of the Earth are merely debt slaves or paupers, and thus, must not become a burden to the Church. And as such, slaves have no rights, have no say in the matter and by law, cannot own anything. In other words, slaves are property and not human beings. (See video below for more Vatican secrets from Jordan Maxwell.)

Vatican Secrets EXPOSED! Jordan Maxwell | in5d.com

Yet here we stand, in the year 2013 and we are witnessing the disintegration of this entire corrupt and insane system. And we are now actually getting to see how its demise is being accomplished.

Granted, most people of the world will be shocked to the core to learn the true and absolute powers which lie within Vatican City, the Holy See and the Pope. The Holy Roman Empire has been the most powerful force on the planet for over 2,700 years. The Vatican has wielded indisputable temporal power over world affairs for centuries, including over the US as it sits at the very top of the pyramid when it come to the pecking order of planetary rulers.

Therefore, the very fact they have now authorized the discharge global debt is one of the greatest milestones in the history of the world.

Ironically, as the world’s people are released from all debt obligations, the USA, Inc. shadow government, also known as Washington, DC will not be afforded the same privileges. The USA, Inc. has been over laid on top the original Republic envisioned by the Founding Fathers by an act of Congress known as the Organic Act of 1871, which established the Washington, DC/District of Columbia corporation.

Despite the illegal formation of this corporation, the Republic of the united States forAmerica, as it was originally intended to be still very much exists. The USA, Inc., the entity responsible for the national deficit, is now bankrupt and we are now witnessing its free fall.

––  As if to further confirm the discharge of the debt and the bankruptcy of the USA corporation, a series of strange events began to unfold over the weekend of August 3rd and 4th.

The US government announced as many as sixteen embassies in the Middle East would be closing for a period of several days. Within hours of that report on CNN, the US State Department declared the embassies instead will be closed for as long as a week, with a further number of African embassies added to the total of nineteen.

––  Then, on Monday, August 5th, the Daily Mail reported HSBC Bank had informed the many foreign embassies and consulates located in England who are account holders, they will need to find another institution to do their business. As the foreign embassies, including even the Vatican, scrambled for an alternative, they found no other banks in England were willing to take on their banking needs either.

Very likely the numerous embassy closings by the US State Department and the refusal of HSBC Bank to retain other foreign embassies as customers are intricately related to the ongoing bankruptcy of the world corporate governments.

––  On August 12, 2013, Attorney General Eric Holder announced he would recommend the states begin to release prisoners in victimless crimes such as drug offenses, tax evasion, etc. It should be noted nearly one quarter of all prisoners world-wide are found in US jails. And yet we are told again and again, by our history books and our media we are a free nation.

Make no mistake about it, the penal system is part of the international slave trade where prisoner bonds are bought and sold like livestock on an underground market. The very fact the US Attorney General would make such a pronouncement is clearly directly tied to the discharge of the global debt.

––  In still another astonishing development, on Thursday, August 22, the NASDAQ stock exchange went dark for a full three full hours during daytime trading. In the aftermath, many Wall Street media pundits and insiders were scratching their heads in an effort to figure out what really happened. They were unable to come up with any definitive answers.

––  On August 23rd a report emerged insisting the down time was due to an attempt to link the NASDAQ exchange with the Global Currency Reset which ultimately crashed the entire system as many as six times. The NASDAQ collapse caused numerous other stock entities to briefly go off line, as well, including: the New York Stock Exchange (NYSE); the Toronto Exchange (TSX); the Iraq Stock Exchange (ISX); among several others.

Although most sources attributed the outage to some kind of major technical glitch, it is important to note a malfunction of this magnitude had never occurred in the entire 42-year history of NASDAQ, easily the most technologically advanced exchange in the world.

––  Four days after the NASDAQ outage, on August 26th, the Eurex (also known as the Deutsche Boerse or the Frankfurt Stock Exchange) went down for over an hour.

––  Ironically, tech titans Google and Amazon, as well as, media conglomerate, the New York Times, all had similar outages during the month of August. It is highly likely these other technical failures are not merely coincidental but perhaps part of a series of warning shots to the global elite. It should be noted, the heads of Google, Amazon & the New York Times all have been active members of the Bilderberg group.

––  The very same day as the NASDAQ outage, August 22nd, the annual Federal Reserve meeting was convened in Jackson Hole, Wyoming without Ben Bernanke in attendancebut with IMF Managing Director, Christine Lagarde. Ms. Lagarde was interviewed during the conference and proclaimed: “The banking system needs to be unclogged, and liquidity as well as instruments need to move fluidly throughout the system, which has not been the case.”

––  On August 23rd, David Wilcock reported in his latest post the US military is now working with the hacker group Anonymous in a united effort to take down the Federal Reserve banking cartel. He also stated the majority of the military is in support of the take-down of the Federal Reserve cartel. If accurate, this report would mark a crucial development ensuring the proper security will be in a place for any type of scenario to institute the Global Currency Reset and the Restoration of the Republic.

––  Meanwhile, the international cabal in an act of total desperation continues to try to ferment World War III in Syria in order to stave off their own bankruptcy and the implementation of the Global Currency Reset. Having already miserably failed to do the same in Afghanistan, Iraq, Iran and Egypt, Syria remains one of the few remaining Middle East countries vulnerable for manipulation through a false flag attack.

Yet, even with a threat of world war, we are seeing more and more of the globe uniting to stand directly opposed an international cabal whose support may have now dwindled down to a mere eight member countries including: the US; Canada; France; England; Israel; Turkey; Saudi Arabia; and Qatar. Another clear sign the game has dramatically shifted. We have come to the point where nearly the whole of the planet has mandated we must begin the move towards a world of peace.

Clearly we are seeing the collapse of an old paradigm no longer sustainable within our rapidly evolving reality. From this point on, we can expect big and spectacular changes to become the norm.

Unfortunately, it appears as if the sheer scope and scale of the Global Currency Reset and all its many components was a far grander and more complex undertaking than any had anticipated. The numerous technical issues which have cropped up recently with NASDAQ, Eurex and the co-ordination with other financial systems such as Forex as well as the newly created International Currency Exchange (ICX) have proven it to be so.

Many, many reports have suggested numerous attempts of the GCR have been done without success thus far. We must now conclude there may still be several important pieces to this puzzle which must align themselves for the Reset to be finally launched. Yet we must appreciate the many steps which have already been accomplished and thus we can confidently determine we are very, very close to completion.

With all of this extraordinary amount of activity, it should be abundantly clear by now we are dealing with a much, much bigger undertaking than revaluing one or two currencies. We are deep within the process of a total global phenomenon unprecedented in human history. As we sit now, humanity is at a critical stage of evolution. We have reached the point of no return.

Besides the upcoming date of September 1st, other significant dates to look towards include September 30th which is the end of the Fed fiscal year and October 8th when the new symbolic $100 bills will be released, ideally by the newly revitalized US Treasury, and not the Federal Reserve.

It is interesting to note the numerology for the date of August 31, 2013, the ending date before a new paradigm kicks in on September 1st ––  8 + 3 + 1 + 2 + 0 + 1 + 3 = 18. Then if broken down to single integer – 1 + 8 = 9. Nine is the symbolic number for completion.

If you have been following this story for some time, you have also likely noticed a great deal of conflicting and confusing information has peaked to an all time high. Understandably, you may have reached a point where you are ready to throw your hands in the air in a state of exasperation.

As events accelerate towards a crescendo, we may well be in the midst of what scientists have often referred to as the Chaos Theory. In this instance, reality begins to accelerate into an increasing state of chaos. Eventually, it reaches what appears to be an out-of-control stage. At this point, a dramatic shift occurs taking reality to a much higher level, or a more evolved state of being.

Do not be surprised if the world appears to get even stranger as we venture from an old paradigm into a new. From an old, outdated way of being to an entirely, expanded new one.

One of the greatest detriments to change is fear. As we have discussed in many previous news articles, fear can be a extremely debilitating condition which robs us of our innate power. We must resist the temptation to fall into a state of fear as we come to this critical stage in the future of the Earthly experience, despite the threats which seem to emerge from everywhere.

Ultimately, realize these are tests for us to overcome and all are merely an illusion. They are not real. In the process of overcoming our fears, we will accelerate our evolution that much more quickly.

We have outlined a great deal of very profound changes coming into our reality at this present time. These changes are directly the result of an awakening of consciousness within the human experience.

We must understand, all changes start from within. The world is not happening to us, we are directly affecting the experience we are having by our own thoughts and beliefs. All the conditions on the Earth, whether negative or positive, are the makings of the human mind.

Realize how magnificent a time we are living in as we are now witnessing the world transforming right before us. A long, sordid chapter of slavery, subjugation, fraud and fear is thankfully coming to a close. Directly in front of us lies a much more spectacular and enhanced human experience. And it is here now for the taking.

This time period which was long ago prophesied has been referred to in many different ways such as the great shift of consciousness, Heaven on Earth, or the Golden Age. Whatever label it goes by is of least importance, rather it is the feeling it engenders within which makes all the difference.

For sure, many, many challenges lie ahead us. Yet, ten times as many blessings will become accessible to you and your family like never before as we move forward.

Indeed, the time has come to begin to reap the harvest. And what a bountiful one it will be.

© 2013 MR Productions, LLC | All rights reserved

For more news stories see our News Archives

Editors note: Recently, several of our previous news articles have gone to the “viral” stage, having been posted far and wide on message boards, forums, blogs, websites, etc.

As these articles have reached more and more people, they have provoked quite a reaction. Some have reacted with a great deal of fear, trepidation and misunderstanding, particularly regarding the topics of NESARA , the Restoration of the Republic and the concept of oneness. Some have even called for my arrest for dare mentioning these kinds of possible scenarios, despite the fact many have been floating out in cyberspace for nearly ten years!

It is quite clear, this kind of fear-based thinking is a prime example of how programmed the US population has become. Unfortunately, many are simply ignorant of the true history of our nation and blindly believe in the propaganda spewed forth by the compromised mainstream media.

The fact of the matter is our government was overthrown well over 140 years ago when the corporation known as the District of Columbia was created by the Organic Act of 1871 at the behest of the international bankers.

The Restoration of the Republic is about returning to a constitutional form of government first envisioned by our brilliant Founding Fathers where the people of the US can be truly free. An overthrow of our government is NOT a part of this plan. Let me repeat –– it is NOT a part of the plan.

Admittedly, NESARA is a highly controversial and highly charged topic. Much has been said and written about it to the point where many have understandably become rather confused as to what it is all about. I have only briefly mentioned it in a few recent articles, yet it provoked quite a firestorm of debate on one particular forum.

Still others have taken the spirit of our news articles out of context in order to convince the reader their information is more accurate.

We are fully aware and understand everyone is entitled to their own opinion and their own beliefs. And in turn, everyone is entitled to experience a reality of their own making –– be it positive or negative, uplifting or terrifying, love or fear. The choice is ultimately yours.

We are also keenly aware there is a process underway to free the world and the methods by which it may happen might all depend on who you talk to or believe in. And we also realize, all may not proceed smoothly, and in fact, it might be a bit of a bumpy ride as major events start to unfold.

Our mission is to present the most uplifting and inspirational angle on world events as possible. We intentionally look for information and confirmation of only the most optimistic outlook in order to create the most positive experience for everyone.

While some place the utmost importance upon the facts from “qualified sources,” our writings are primarily meant to generate an overall feeling of enthusiasm and excitement.

At the same time, we have stressed the profound influence of quantum physics which has proven, beyond a shadow of a doubt, our reality is created solely by our thoughts, feelings, attitudes and beliefs. We are not independent of the world but rather are the creators of it! In other words it really all depends on what you truly believe.

This realization is perhaps most important of all in understanding who and what we really are within the context of this 3-D Earthly experience we find ourselves in. When we truly comprehend this concept, we can then begin our evolution to a higher dimensional experience –– namely, the Golden Age.

In closing, I would also be remiss if I did not acknowledge all of the wonderful support which has poured in with the expanded readership of our articles. I would like to extend a personal thank you to all those who have written to me, who have supported me on the forums and who have signed up as new subscribers. Thank you one and all.

Best wishes and peace to all,

–– Scott Mowry

© 2013 MR Productions, LLC | All rights reserved


Egypt: Incredible footage of the largest protest in history

10/4/2012 Recently Updated Mass Arrest List Hits #214 – Bankers and Brokers and Inside Traders Arrested, Oh My!

Read complete post here: > http://consciouslyconnecting.blog.com/2012/07/25/bankers-and-brokers-and-inside-traders-arrested-oh-my/  – New Total 214 — 10/4/2012

Bankers and Brokers and Inside Traders Arrested, Oh My!

  1. 6/23/12: Social welfare ‘scam’: Two bank officials arrested Muzaffarnagar, India Jul 23 (PTI) Two officials of a public sector bank were arrested for their alleged involvement in a multi-crore Rupee scam in the Uttar Pradesh social welfare department, police said today. The bank’s branch manager Pramod Sharma and cashier Rajender Sharma were arrested yesterday in this connection, SP (City) Raj Kamal Yadav said. He also said that a hunt was on to nab Anil Verma, the main accused in the scam that took place during 2008-09. A former district welfare officer, Rinku Singh Rahi, had alleged a multi-crore scam in the social welfare department by staging a dharna in Lucknow seeking reply to an RTI query in connection with the “scam”. The Samajwadi Party government had ordered a probe into Rahi’s charges after coming to power in March this year.
  2. 6/25/12: Ex-SMBC Banker Arrested Amid Insider Trading Probe – TokyoA former SMBC Nikko Securities Inc. executive was arrested yesterday, becoming the first banker from a major Japanese brokerage to be detained for suspected insider trading since 2008. The Securities and Exchange Surveillance Commission and Yokohama city prosecutors are investigating former SMBC Nikko executive Hiroyoshi Yoshioka, 50, and three other people, the financial watchdog said in a statement.
  3. 6/25/12: Indonesia: Sumatran city of Medan ‘turning into terror financing centre’ –  Jakarta, 25 June (AKI/Jakarta Post) – Indonesian officials said Medan, in North Sumatra, is turning into a centre for terrorism financing, following the arrest of five suspects with assets worth nearly Rp 8 billion (US$848,000), allegedly used to fund paramilitary training and terrorism operations. A suspect led police and armed anti-terrorism personnel to seize four houses, one shop, three cars and seven motorcycles in three locations that were purchased using funds the arrested suspects got from hacking a multi-level marketing website.The members bought the account numbers of bank clients in and outside the country. Some terrorist suspects posed as multi-level marketing members and sought more customers. “The hackers transferred the credit points to their accounts, and then sold them to brokers, who transferred the money equivalent to their bank accounts.”
  4. 6/26/12: The Shmuckler Group Owner Sentenced to 90 Months for Mortgage Rescue Fraud Scheme – (Source: FBI) – ALEXANDRIA, VA—Howard R. Shmuckler, 68, of Virginia Beach, Virginia, was sentenced today to 90 months in prison, followed by three years of supervised release, for running a fraudulent mortgage rescue business that received substantial fees but actually modified clients’ mortgages in only a few cases. “Mr. Shmuckler is a cunning criminal who took advantage of distressed homeowners in desperate need of help,” said U.S. Attorney MacBride.
  5. 6/26/12: MD Man Indicted in Over $9M Investment Scheme – (Source: FBI) – BALTIMORE—A federal grand jury returned an indictment today charging Larry Michael Parrish, age 48, of Walkersville, Maryland, with offenses arising from an investment scheme. According to the 25-count indictment, Parrish was the president of IV Capital Ltd., which he represented to be an investment and trading company. Parrish devised a scheme to obtain approximately $9.2 million from nearly 70 individuals who agreed to invest in IV Capital.
  6. 6/26/12: Research firm executive arrested on insider trading charges: FBI New York, (Reuters) – Law enforcement authorities said on Tuesday they arrested and charged an executive at an investment research firm as part of the government’s wide-ranging probe of insider trading at the now-defunct Galleon Group hedge fund. Tai Nguyen of research firm Insight Research LLC surrendered to the FBI Tuesday morning, an FBI spokesman said, and was expected to appear in federal court in Manhattan later in the day. Nguyen was facing charges related to insider trading, the FBI said, but the exact charges have not yet been made public. The FBI and federal prosecutors in Manhattan have mounted a campaign to root out insider trading on Wall Street, focusing in part on employees at so-called expert network firms who they say helped funnel corporate secrets from consultants at companies to hedge funds.
  7. 6/27/12: Former Loan Officer Clayton Coe From Failed FirstCity Bank Admits Guilty to Bank Fraud Scheme– WASHINGTON, DC – The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Clayton A. Coe, 45, of McDonough, Georgia, the former Senior Commercial Loan Officer for FirstCity Bank of Stockbridge, Georgia, which failed and was seized by the FDIC, pleaded guilty yesterday to bank fraud. The plea is in connection with an $800,000 loan that Coe tricked FirstCity Bank’s Board of Directors into approving and from which he personally profited. He also pleaded guilty to filing a false federal income tax return with the IRS that omitted nearly a half million dollars of income from his job at the bank. ”Coe’s greed helped drive FirstCity Bank into the ground. He defrauded the bank to fund his ultimate payday and placed his interest in ill-gotten personal gain ahead of the interests of the bank, its customers, its investors, and the community the bank served. It’s precisely that sort of behavior that has robbed the public of its confidence in the banking industry and its institutions, and for his fraud, Coe will be banned for life from ever again practicing banking.”
  8. 6/27/12: Ponzi Schemer Scott Rothstein Knew Fraud Was Collapsing – (Source: Sun Sentinel, Fort Lauderdale, Fla — The letter sent Scott Rothstein into a panic, he feared his colossal crimes were about to be exposed. It was February 2009, eight months before his $1.4 billion Ponzi scheme collapsed. A family of investors had sent him the letter demanding their $4.25 million back immediately, and Rothstein was certain they had uncovered his secret. “Holy s***, this is going to explode,” Rothstein recalled thinking. “They figured out the Ponzi scheme. They know there’s no money in the accounts. We are all going to jail.”
  9. 6/27/12: Lenny Dykstra Agrees to Plea Deal in Bankruptcy Fraud Case – (Source: Los Angeles Times) – LOS ANGELES — Former baseball star and self-styled financial guru Lenny Dykstra, already sentenced to three years in a California state prison for a car scam, has agreed to a plea deal on federal bankruptcy fraud charges after looting his mansion of valuables as he struggled to battle numerous creditors. Dykstra, who helped the New York Mets win the 1986 World Series and later became a celebrity stock picker before his finances dissolved in chaos in 2009, has racked up a score of charges in recent years. His fall from grace during the last two years has resulted in conviction for a car finance scam and a separate charge of lewd conduct with a deadly weapon. Federal prosecutors entered under seal a plea agreement with Dykstra in connection with his embezzlement from the bankruptcy estate case.
  10. 6/27/12: A Stockbroker’s Undisclosed Arrest Sets Off A Regulatory Cavalcade Of Disaster – For the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority (“FINRA”), without admitting or denying the findings, prior to a regulatory hearing, and without an adjudication of any issue, Bruce Parish Hutson submitted a Letter of Acceptance, Waiver and Consent (“AWC”), which FINRA accepted. The AWC alleges that on April 21, 2009, Hutson was arrested for retail theft based on allegations that he stole merchandise from a retail store in Wisconsin.  Contrary to Firm policy, Hutson did not advise his member firm of the arrest.
  11. 6/27/12: Barclays to Pay More Than $450 Million in Interest-Rate Settlement – (Source:Los Angeles Times) – NEW YORK — Barclays Bank PLC has agreed to pay more than $450 million to settle charges it attempted to manipulate keyinterest rates. The London-based investment bank announced settlements with the U.S. Department of Justice, the U.S. Commodities Futures Trading Commission and the BritishFinancial Services Authority. Investigators found the bank manipulated the London InterBank Offered Rate, or LIBOR, and the Euro Interbank Offered Rate, or EURIBOR, benchmark interest rates used in the world’s financial markets.
  12. 6/28/12: Mortgage Scheme Nets Crofton Man a Prison Sentence – (Source: By Jamie Smith Hopkins, The Baltimore Sun – A Crofton man was sentenced Wednesday to more than four years in prison for redirecting about $5 million in mortgage payoffs on 17 Maryland properties to himself and a co-defendant, according to federal prosecutors. Todd R. Bettin, 42, was assistant manager of At Home Mortgage when he conspired with the owner of a Gambrills settlement company to illegally benefit from money intended to pay off clients’ mortgages.
  13. 6/27/12: Bidzina Ivanishvili’s banks and company arrested – Georgia, Tbilisi, National Bureau of Georgia continues performing the proceedings of the “Georgia Dream” coalition leader, Bidzina Ivanishvili. As told Trend in Bureau, gathering information was carried out on the property registered on billionaire. Executive Bureau requested the national Bank of Georgia, the identity of a beneficial owner of the banks “Kartu” and “Progress bank” and found that the owner of 100% stake in the bank “Kartu” is a “Kartu group”, and 21.7% shares of “Progress bank” – the owner of the beneficiary. Information provided by the National Bank of Georgia, found that, in accordance with the law on commercial banks face when buying a share of the bank is obliged to put in the prescribed manner notify the National Bank. In case of non compliance with this rule, the transaction for the sale of shares is not valid. Because the National Bank of Georgia was not represented by a declaration in order to change ownership of the beneficiary bank “Kartu”, the owner of 100% stake in the bank “Kartu” is still Bidzina Ivanishvili.
  14. 6/29/12: Karkala: Bank Manager Arrested for Fraud – Karkala, Jun 29: Suresh KP (29) who was working as a manager in Bhuvanendra branch of Syndicate bank was arrested on charges of misappropriating funds on Wednesday June 27 and was sent to Hiriyadka Jail. It is learnt that he opened fake accounts in fictitious names and created fake loans on them. He used to withdraw money from ATMs, committing a fraud of Rs 13.84 lac.
  15. 6/29/12: FBI says arrests Bernard Madoff’s brother – NEW YORK, June 29 (Reuters) – The FBI said on Friday it had arrested Peter Madoff, the younger brother of swindler Bernard Madoff, who is serving a 150-year prison sentence for his multibillion dollar Ponzi scheme. The arrest of Peter Madoff was expected as he is due in federal court in Manhattan later Friday to plead guilty to charges related to his brother’s decades-long fraud. Federal prosecutors on Wednesday revealed in a letter that Peter Madoff had been criminally charged with participating in his brother’s fraud. He is the first Madoff family member to be arrested and charged.
  16. 7/2/12: Catonsville RE Appraiser Pleads Guilty for Trying to Obtain $4.3M in Fraudulent Mortgage Loans – (Source: FBI) – BALTIMORE—Real estate appraiser David C. Christian, age 62, of Catonsville, Maryland pleaded guilty today to conspiracy to commit wire fraud. According to his guilty plea, Christian appraised a number of properties on behalf of purchasers who were seeking financing through a mortgage brokerage company. At the request of a co-conspirator who controlled the mortgage brokerage company, Christian prepared at least 17 fraudulent appraisals for $4,306,950 in loans originated at the mortgage company. Christian falsified the appraisals by using fake photos and descriptions of the properties, misrepresenting the condition of the properties, and used inappropriate comparable properties. The total loss for the 17 loans amounted to $2,661,366.
  17. 7/2/12: Four Defendants Indicted in Alleged $9.1M Mortgage Fraud Scheme – (Source: FBI) – CHICAGO—Four defendants, including a licensed realtor and two licensed loan originators, were indicted for allegedly participating in a scheme to fraudulently obtain at least 42 residential mortgage loans totaling approximately $9.1 million from various lenders, federal law enforcement officials announced today. The indictment alleges that the mortgages were obtained to finance the purchase of properties throughout Chicago by buyers who were fraudulently qualified for loans while the defendants allegedly profited. The lenders and their successors incurred losses totaling approximately $4.7 million because the mortgages were not fully recovered through subsequent sales or foreclosures. All four defendants were charged with various counts of bank fraud, mail fraud, and wire fraud in a five-count indictment that was returned by a federal grand jury last Thursday. The indictment also seeks forfeiture of at least $4.7 million.
  18. 7/2/12: Gary Foster: Former VP of Citigroup Sentenced to 97 Month in Prison for Embezzlement – (Source: FBI) — Gary Foster, a former vice president in Citigroup, Inc.’s treasury finance department, was sentenced to 97 months’ imprisonment today on a conviction for bank fraud arising from his embezzlement of more than $22 million from Citigroup. Foster embezzled by first transferring money to Citigroup’s cash account and then wiring it to his personal bank account at another bank. Foster used the money to buy real estate and luxury automobiles, including a Ferrari and a Maserati. In total, the value of the seized and restrained property is estimated to be approximately $14 million.
  19. 7/2/12: FTC Wins Multi Million Dollar Case Against Foreclosure Assistance Scam That Gave False Promises – (Source: FTC) — The Federal Trade Commission won a $2.6 million federal court judgment against three defendants behind a scheme that charged consumers large upfront fees and failed to deliver the mortgage modifications they promised. The FTC alleged that the defendants behind Crowder Law Group promised relief from burdensome mortgages by falsely claiming they could modify consumers’ mortgages and substantially reduce their monthly payments; exaggerating the role an attorney would play in obtaining a loan modification; and pretending to be affiliated with a government agency.
  20. 7/3/12: Mortgage Broker Gets Probation – (Source: The Pueblo Chieftain, Colo. – A Pueblo mortgage broker convicted in May of bilking at least $160,000 from a friend, was sentenced Monday to five years probation and may serve a 90-day jail term pending an appeal. Anthony Paglione, 61, was convicted for misappropriating money from Vincent Gagliano through a complicated series of loan swaps between two Pueblo homes. Paglione said the financial collapse the country has seen is one reason for what has happened.
  21. 7/4/12: Bank official threatens client, held – KOLKATA: A senior official of a private bank was has been arrested for allegedly sending threat mails to a city businessman. Sunil Bansali was rounded by police from Park Street on Monday night, police rounded from Park Street rounded up the bank official. Later, Bansali was produced in court and later released on bail. Sahni alleged that Bansali had demanded cut money to process the loan application, but Sahni turned him down. This made Bansali furious. He reportedly started harassing Sahni for money and later threatened to cancel the application.
  22. 7/5/12: U.S. Group: Lebanese Banks Laundering Money – (Source: The Daily Star, Beirut, Lebanon) — An anti-Iranian U.S. activist group is piling pressure on U.S. and European banks to dump their holding of Lebanese sovereign debt, describing Lebanon’s banking sector as a front for Iranian money laundering in cooperation with Hezbollah. “As a result of the actions and omissions of BDL [Lebanon’s Central Bank] and the LBS [Lebanese banking system], Lebanon has become a sovereign money laundering jurisdiction that receives massive inflows of illicit deposits … from Hezbollah’s terror and criminal activities, and the illicit symbiotic relationships among Iran, Syria and Hezbollah,” said a press release issued Tuesday by the New York-based group United against Nuclear Iran. UANI argued that despite Lebanon’s “great risk of sovereign default” due to its high debt to GDP ratio, Lebanese sovereign bonds showed “irrational strength” that corresponds with increased pressure against Iran. UANI is also pushing to bar Lebanese financial institutions from participating in the U.S. financial system, urging the U.S. Treasury to designate Lebanon’s financial system as a “money laundering concern” under a statute of the Patriot Act.
  23. 7/5/12: Boxford Man Pleads Guilty to $6.9M Fraud Scheme – (Source: FBI) – ALEXANDRIA, VA—James W. Massaro, 70, of Boxford, Massachusetts, pled guilty today to engaging in a fraudulent foreign investment scheme that defrauded at least 20 victims of more than $6.9 million. Massaro pled guilty to one count of conspiracy to commit wire fraud. He faces a maximum penalty of 20 years in prison when he is sentenced on September 21, 2012.
  24. 7/5/12: Threat To Broker’s Client Assets Ends – The winding-up of a former Bahamian broker/dealer whose principal pled guilty in the US to money laundering is close to completion, its liquidator saying the Attorney-General’s withdrawal of a Forfeiture Order registration had eliminated a potential threat to client assets.
  25.  7/6/12: Prosecutors seek arrest warrant for Lee’s brother, ruling party lawmaker over bank scandal SEOUL, July 6 (Yonhap) — Prosecutors on Friday sought court warrants to arrest President Lee Myung-bak’s elder brother and a ruling party lawmaker for further questioning about their alleged involvement in a bank bribery scandal. Lee Sang-deuk, a 77-year-old former lawmaker of the ruling Saenuri Party, and Chung Doo-un, a legislator from the same party, were specifically charged with violating the law on political funds and peddling influence in exchange for accepting huge amounts of money from operators of two troubled savings banks. Prosecutors have found the chairmen of the banks extensively lobbied politicians and officials to avoid regulatory punishment. Despite these efforts, the two banks — Solomon Savings Bank and Mirae Savings Bank — had their businesses suspended earlier this year for lack of capital. The chairmen were later indicted on charges of extending illegal bank lending and conducting management irregularities.
  26. 7/6/2012: Ex-Bankas Snoras Owners Arrested Again in U.K. Over Fraud Claims – Bankas Snoras AB’s former owners were arrested again in London today on expanded claims they siphoned at least 1.7 billion litas ($609.5 million) from the failed Lithuanian lender to finance luxurious lifestyles. Russian banker Vladimir Antonov and his business partner Raimondas Baranauskas, who were detained in November and are fighting extradition to Lithuania, were arrested a second time after authorities probing the bank’s collapse in the Baltic country issued another European arrest warrant containing new allegations, John Hardy, a lawyer for the prosecution, said at a scheduled hearing today in London’s Westminster Magistrates Court.
  27. 7/6/12: Financial Adviser to be Tried Over the Theft of $2.2 Million – (Source: By The Honolulu Star-Advertiser (MCT) – A financial adviser accused of stealing $2.2 million from 22 active and retired city employees is scheduled to go on trial in state court next month for securities fraud and money laundering. Bruce M. Harada, 53, pleaded not guilty to the charges June 28. He remains in custody, unable to post $250,000 bail. He was an independent financial adviser for ING North America Corp., managing the deferred compensation accounts of active and retired city employees. Harada convinced at least 22 people to withdraw money from their deferred compensation accounts to reinvest in a mutual fund he said was authorized by ING. Instead Harada put it in his personal account and spent it for his own use, Van Marter said.
  28. 7/6/12: Fenton Man Pleads Guilty in $100-Million Mortgage Scheme – (Source: Detroit Free Press – A Fenton man pleaded guilty Thursday to running a massive mortgage fraud scheme that cost lenders more than $100 million in losses — some of which was used to buy cars, boats, trips and a helicopter for several con artists who were in on the scam, according to authorities. The U.S. Attorney’s Office said the ringleader, Ronnie E. Duke, 45, ran a nearly four-year scheme with eight others that involved more than 500 fraudulent mortgage loans, more than 100 straw buyers and roughly 180 residential properties in metro Detroit. The properties were used as, or falsely portrayed as, collateral for the loans, most of which went into default and foreclosure, authorities said.
  29. 7/6/12: FBI: Enumclaw finance adviser stole $2M, faked suicide – An Enumclaw financial planning adviser who allegedly left a fake suicide note in his car parked on Deception Pass has been arrested and charged with stealing at least $2 million from his clients, including one client whose death he also allegedly faked to collect the man’s life insurance. Aaron Travis Beaird, who worked as a financial planning adviser in Enumclaw, has been charged with wire fraud. The Federal Bureau of Investigation arrested him July 2 at SeaTac airport when he returned to Washington state from an undisclosed location.
  30.  7/7/12: Bank of India official arrested for bribery – Mumbai, July 7 — A senior official of the state-run Bank of India was nabbed red-handed while accepting a bribe of Rs.100,000, the Central Bureau of Investigation said here Saturday. Senior Manager Ganesh C. Das of the bank’s Mumbai main branch was trapped by CBI sleuths from the CST Station Friday evening taking the bribe from a financial consultant.
  31. 7/7/12: Judge: Bank fraud defendant to pay $712K –  A federal judge has ordered a former Topeka bank vice president to pay more than $700,000 in restitution to the bank. Jennifer Hughes-Boyles, 40, of Topeka, Kansas pleaded guilty to bank fraud, a felony.
  32. 7/9/12: Enterprise Credit Union Employee in Dickinson County Pleads Guilty to Embezzling $85,000 – (Source: FBI) – TOPEKA, KS—A former employee of a credit union in Dickinson County has pleaded guilty to embezzling $85,000. Deborah A. Bomia, 46, Enterprise, Kansas, pleaded guilty to one count of embezzlement. In her plea, she admitted the crime occurred from April 30, 2005 to August 8, 2011, while she worked for Enterprise Credit Union in Enterprise, Kansas.
  33. 7/9/12: Johnson City Man Sentenced for Ponzi Investment Scheme That Lasted 15 Years – (Source: FBI) – Thomas E. Kelly, 64, of Johnson City, New York, was sentenced today in United States District Court to a term of imprisonment of four years and three months in connection with his previously entered plea of guilty to the felony crime of mail fraud. In addition, a term of five years’ supervised release, which will follow completion of Kelly’s prison sentence. Kelly was employed as a financial consultant by a number of banks located in the Binghamton, New York area. In his position as financial consultant, Kelly recommended that clients sell off legitimate securities investments in order to invest in a fictitious entity Kelly called Seneca Group. Kelly promised investors with Seneca Group a stable, secure investment. Instead, Kelly used money invested with Seneca Group to, make risky investments in the stock market and pay some of Kelly’s personal expenses. The amount of loss to investors as a result of Kelly’s scheme was almost one million dollars.
  34. 7/10/12: Dozens arrested in loan fraud scheme with victims in U.S, Canada – (Reuters) – Dozens of people were charged in what federal authorities on Tuesday called a highly sophisticated loan fraud scheme that robbed $2.7 million from at least 2,000 victims with poor credit histories in Canada and the United States. Would-be borrowers were lured to websites of 67 fictitious businesses with names similar to well-known lenders such as “Countrywide Funding,” which sounds similar to the legitimate Countrywide Financial Corp., and “Admiral Financial Services,” which mirrors Admiral Financial Corp., authorities said. They were approved for loans in exchange for security deposits ranging from a few hundred dollars to several thousand dollars – to be sent in advance of the flow of borrowed cash that never arrived.
  35. 7/10/12: Arlington Development Company Convicted in Mortgage Fraud Case – (Source: Dianna Hunt Fort Worth Star-Telegram, Texas (MCT) — An Arlington development company was convicted Monday and paid $50,000 in fines for participating in a complex $13 million mortgage fraud that operated throughout North Texas. In a rare criminal case against a corporation, Sierra Developers pleaded no contest to helping generate nearly $600,000 in fraudulent loans for the sale of two homes worth far less in Mansfield’s Twin Creeks subdivision in 2004.
  36. 7/11/12: Orange County Man Sentenced for Tax Evasion in Mortgage Fraud Conspiracy – (Source: FBI) – RIVERSIDE, CA—Today, Gregory Flores, former manager at All Fund Mortgage in Anaheim Hills, was sentenced to 144 months’ imprisonment and three years of supervised release. U.S. District Judge J. Virginia Phillips also ordered Gregory Flores to pay over $1 million in restitution to homeowner victims and over $98,000 in restitution to the IRS for his role in a mortgage fraud conspiracy and for evading taxes.
  37. 7/12/12: DOJ: Former Bank of the Commonwealth Executives Arrested for Alleged Fraud – Former executives and favored borrowers at the failed Bank of the Commonweath have been arrested and charged with masking nonperforming assets for their own benefit, in a scheme that contributed to the Virginia bank’s 2011 collapse, the Justice Department said.
  38. 7/12/12: Former bank manager pleads guilty to embezzlement – NEW ORLEANS (AP) – U.S. Attorney Jim Letten says a former manager of a Whitney Bank branch in Metairie has admitted stealing more than $56,000 from the bank. He says 50-year-old Karen Sork pleaded guilty Wednesday to bank theft, and could get up to 10 years in prison and $250,000 in fines, and restitution. Court documents say she was a banking officer and manager at the branch from December 2008 to August 2009, and sometimes acted as a teller. It says that when she did, she would regularly take cash from her “cash drawer,” put it into her personal accounts, and fill in a false amount of money on the balance sheet at the end of her shift.
  39. 7/13/12: Peregrine CEO arrested on fraud charges – WASHINGTON (MarketWatch) — Russell Wasendorf, the head of failed futures broker Peregrine Financial Group Inc., was arrested on Friday and charged with making false statements to the Commodity Futures Trading Commission. Wasendorf’s arrest comes after the CFTC filed a lawsuit against Iowa-based investment firm he oversaw, commonly known as PFGBest, alleging that the firm committed fraud by misappropriating roughly $215 million in customer funds. PFGBest filed for bankruptcy this week. The criminal complaint cites a seeming confession left by Wasendorf, who attempted to commit suicide on Monday. “I have committed fraud,” he said in a note referred to in the complaint. “Through a scheme of using false bank statements I have been able to embezzle millions of dollars from customer accounts” at the company. He added the scheme has been going on for nearly 20 years.
  40. 7/13/12: Former Hypo Bank Boss Arrested – Celje, 13 July (STA) – Božidar Špan, the former CEO of Austrian-owned Hypo Alpa Adria Bank, was detained Friday morning. Unofficial information indicates police are investigating the bank’s dealings with bankrupt builder Vegrad.
  41. 7/16/12: Nigeria: NCC Arrests Bank Manager Over Unregistered Internet Band – Akure — A manager with a first generation bank in Akure, Ondo State was, arrested by the National Communication Commission, NCC, over the use of unauthorised internet facility.The action of NCC officials resulted in long queue on the bank premises and at the ATM machines. The internet link being used by the bank was not licensed for it.”If the bank wants to use the link, it should approach NCC for licence instead of tapping into it without clearance from the Federal Government.”
  42. 7/16/12: Bank worker, customers arraigned for N10m fraud– A senior official of Diamond Bank Plc, Oludare Kazeem, and two customers of the bank have been arraigned before a Yaba Magistrate Court in Lagos for allegedly defrauding the bank of N10million. Kazeem was said to have aided Abike Awosika, 60, and Ademola James, 55, to steal the money from the bank. They were said to have committed the fraud when Kazeem assisted James and Awosika in procuring forged statement of accounts from Access and Skye banks with which the customers withdrew N4.5million and N3.5million from the Oregun branch.
  43. 7/16/12: Devon man arrested in alleged investment scam – RADNOR, Pennsylvania — A $150,000 investment into a business venture ended with a $198,000 loss for a Radnor couple and felony charges against their investment broker. Richard D. Jameison Jr., 42, is free on bail, charged with three felony counts of writing bad checks and one count of deceptive business practices, also a felony.
  44. 7/17/12: Bank teller charged over $250k fraud– A Sydney bank teller will face court next month charged with siphoning $250,000 from clients’ accounts. Police arrested the 39-year-old after investigations into an alleged fraud. Between October 2010 and January this year the woman, who worked for an inner-city bank, transferred the money into her own account. She has been charged with seven counts of dishonestly obtaining financial advantage by deception.
  45. 7/17/12: Two North County SD Loan Officers Admit Participating in Mortgage Fraud Scheme – (Source: FBI) – United States Attorney Laura E. Duffy announced that Simon Saeid Koli entered a guilty plea in federal court in San Diego today to count one of an indictment charging him and co-defendant Kian Ashkanizadeh with conspiracy to commit mail fraud, wire fraud, and money laundering in connection with a mortgage fraud scheme. Both defendants, who worked at a mortgage company called Southern California Finance, admitted that they recruited family members and friends to supply their names and signatures on mortgage loan applications. The defendants they then fabricated the job titles, income, and assets of the purported buyers, so they could qualify for approximately $1 million in mortgage funding on each of the properties. They diverted $200,000 in sham “consulting fees” and another $45,000 in fraudulent “construction fees” from each of the four transactions. The defendants took for themselves most of this extra $980,000 that they diverted from the escrow proceedings.
  46. 7/18/12: Former Star Bank Manager in Bertha Sentenced for Stealing $80K from Bank – (Source: FBI) – MINNEAPOLIS—Earlier today in federal court in St. Paul, the former vice president and branch manager of the Star Bank in Bertha, Minnesota, was sentenced for stealing $80,000 from the bank. United States District Court Judge Donovan W. Frank sentenced Kenneth Marlyn Ashbaugh, age 68, of Bertha, to five years of probation, along with 30 days in a county jail, six months of home confinement, and 500 hours of community service on one count of bank theft. In addition, Ashbaugh was ordered to pay more than $102,000 in restitution. Ashbaugh was charged on January 27, 2012, and pleaded guilty on March 5, 2012.
  47. 7/18/12: Man Behind Ponzi Scheme Gets 5 Years – ALBANY (Source: Times Union, Albany, N.Y. (MCT)  — He took her money, her home and her credit. Now Arthur Strasnick is going to federal prison for five years — and his victim is dealing with the indefinite fallout from a financial “atrocity.” That’s what the woman told a federal judge Tuesday before Strasnick was sentenced for a nearly $2 million Ponzi scheme and mortgage scam. The 52-year-old victim said it left her in a financial nightmare and on the brink of suicide.
  48. 7/18/12: Bakersfield Family Indicted in Alleged Mortgage Fraud Scheme – (Source:  The Bakersfield Californian (MCT) – The U.S. Department of Justice Tuesday unsealed a 26-count indictment against a Bakersfield family and their associates, accusing them of causing $5 million in lender losses in a years-long mortgage fraud scheme.Returned by a federal grand jury on Thursday, the 23-page indictment names Jara Brothers Investments Inc., or JBI, also known as Jara Brothers Development; and Pershing Partners, LLC, both property development companies.
  49. 7/18/12: LaRoque Indicted on Eight Counts of Theft, Unlawful Transactions Regarding Loan Business – (Source: The Free Press, Kinston, N.C. (MCT) – A federal grand jury has issued an eight-count indictment against Rep. Stephen LaRoque, R-Lenoir, for theft and misuse of funds from his small-business lending organizations. The office of Thomas G. Walker, U.S. Attorney for the Eastern District of North Carolina, issued a 72-page indictment Tuesday detailing the 15-year history of the East Carolina Development Company Inc. LaRoque founded the ECDC in 1997 to loan federal funds to people in Eastern North Carolina who want to start a business but have been turned down by private lenders.
  50. 7/18/12: Former Chief Financial Officer of Bixby Energy Systems Inc. Sentenced for Securities Fraud and Tax Evasion – (Source: FBI) – MINNEAPOLIS—Earlier today in federal court in St. Paul, the former acting chief financial officer for Bixby Energy Systems Inc. was sentenced for lying to investors to get them to commit large sums of money to the business and for failing to file federal tax returns and reporting his income for three years, which resulted in a tax loss for the Internal Revenue Service of $825,866.United States District Court Judge Susan Richard Nelson sentenced Dennis Luverne Desender, age 65, to 97 months on one count of securities fraud and one count of tax evasion. On September 14, 2011, Desender was charged and pleaded guilty to securities fraud. On February 23, 2011, he was charged and pleaded guilty to tax evasion.
  51. 7/18/12: Ex-UBS France Employee Charged in Tax Inquiry After Raids – A judge leading a tax-fraud investigation concerning UBS AG’s French unit has charged a second person with aiding in illicit marketing and money laundering. UBS avoided prosecution in the U.S. in 2009 by paying $780 million, admitting it helped thousands of Americans evade taxes and turning over the names of 250 American clients to authorities. UBS later revealed another 4,450 accounts held by clients in the country.
  52. 7/18/12: Exclusive: U.S. Insider Trading Investigation Winding Down – Edward Brogan was Japan’s highest-profile hedge fund manager until he suddenly dropped out of view this month.Dubbed the “King of Tokyo” by traders, the 53-year-old American seemed to have it all: wealth, professional acclaim and status as a patron of contemporary art.In his best year, Brogan had managed over one billion dollars in his flagship Whitney Japan Fund, although much of that has been withdrawn.
  53. 7/19/12: Stockbroker arrested as a serial window smasher – How do relieve stress if you are a broker with a top flight firm? Michael Steven Poret, 58, a broker at UBS Financial Services in Los Angeles, had an interesting method. He was arrested recently by the LAPD and accused of vandalizing “numerous businesses along Ventura Boulevard and several private homes in Beverly Hills,” according to the LATimes. ”A witness account and private surveillance footage have depicted the vandal as a graying man in white gloves firing marbles at plate glass windows with a slingshot from the driver’s seat of his car, then driving away in no apparent hurry. Authorities believe that Poret could be connected to more than 20 vandalism incidents in Beverly Hills and more than 50 in Encino, as well as several other vandalism reports authorities have received in Van Nuys and Topanga Canyon. The vandal appears to target businesses indiscriminately, hitting coffee shops, an autism treatment center and a salon.”
  54. 7/19/12: European report rips into Vatican bank for lack of oversight, transparency – A European report on Wednesday identified serious failings in the Vatican’s scandal-plagued bank, sharply criticizing its management and giving the Holy See a negative rating in almost half the most important transparency-related criteria. The Vatican said it saw the 241-page report as a constructive starting point that would allow it to improve its financial controls rather than as a conclusion. The report, by Moneyval, a department of the Council of Europe, was particularly pointed in its criticism of the management of the Vatican bank, officially known as the Institute for Works of Religion (IOR), and “strongly recommended” it be “independently supervised by a prudential supervisor in the near future.”
  55. 7/19/12: Hyderabad: Police arrest owner of investment company – Hyderabad, July 19 (PTI) City police today arrested V Ramesh, Managing Director of City Facility Management Services, for allegedly duping hundreds of investors by promising high returns and collecting deposits of Rs 43 crore. Investors approached the police after Ramesh became untraceable and office of the company was locked. Police have received complaints from about 1,800 investors so far. According to police, Ramesh had paid his investors around Rs 33 crore towards returns. The rest, he allegedly misappropriated. Some of the money was used for stock market trading. Personnel from Central Zone of Special Task Force arrested him and seized a four-wheeler, a laptop and a cash of Rs 40 lakh. Probe revealed that Ramesh, a commerce drop-out, had earlier been arrested in Kavali and Tirupathi in cases of theft and cheating some time ago. There was also a dowry harassment case pending against him, lodged by his wife.
  56. 7/19/12: Eleven Charged, Arrests Made In $15 Million Mortgage Fraud Scheme – CAMDEN, N.J. – Eleven individuals from five states are charged in New Jersey for their alleged roles in a $15 million mortgage fraud scam that used phony documents and “straw buyers” to make illegal profits on overbuilt condos, including a defendant who attempted to murder a witness to the scheme, New Jersey U.S. Attorney Paul J. Fishman announced.
  57. 7/20/12: Fulton County investment adviser arrested on securities fraud charges – WARFORDSBURG, Pennsylvania – Three years after the SEC first brought a civil suit against a Fulton County investment adviser, Robert G. Bard, has been arrested on securities fraud charges.Bard was indicted by the federal grand jury in Harrisburg, on Wednesday, in a 21-count Indictment charging one count of securities fraud, 14 counts of wire fraud, three counts of mail fraud, one count of bank fraud, one count of investment adviser fraud, and one count of making false statements to the FBI. Bard faces up to 20 years’ imprisonment on the securities fraud charge, up to 20 years’ imprisonment on the wire and mail fraud charges, up to 30 years’ imprisonment on the bank fraud charge, and up to five years’ imprisonment on the investment adviser fraud and false statements charge, as well as substantial fines and penalties if convicted.
  58. 7/20/12: Malaysia’s Securities Commission Spokeswoman: Sime Darby Director Arrested for Alleged Insider Trading – A director of Malaysian conglomerate Sime Darby Bhd. (4197.KU) has been arrested for alleged insider trading, a spokeswoman at the country’s Securities Commission said Friday.
  59. 7/20/12: Kumar Gets Probation for His Galleon Trial Cooperation – Crime doesn’t pay, but the lesson from insider-trader Anil Kumar’s case is that it pays to cooperate if you get caught. Kumar, 53, the former McKinsey & Co. partner, was facing 25 years in prison after pleading guilty to participating in an insider-trading scheme with Galleon Group LLC co-founder Raj Rajaratnam. Instead, he received a term of two years’ probation. U.S. Circuit Judge Denny Chin in Manhattan yesterday said he wouldn’t send Kumar to prison, and cited what prosecutors called Kumar’s “essential” and “extraordinary” cooperation as the first and key witness in the biggest insider-trading cases in U.S. history.
  60. 7/20/12: SJ Bank Manager, Husband Bilk Victim of $1.1 M– A JP Morgan Chase bank manager and her husband were convicted Thursday of scamming a 97-year-old man out of $1.1 million in life savings, according to the Santa Clara County District Attorney. Prosecutors said that bank manager Christina Bray, 30, befriended the elderly banking client and pretended to manage his financial affairs. Instead, prosecutors said, Bray and her husband, Jimmy Bray, 39, of San Jose, spent the victim’s money on  luxury cars and liposuction. The couple pleaded guilty to several counts of felony elder theft.
  61. 7/20/12: UCO Bank manager, assistant held for fraud– NAGPUR: Kanhan police on Saturday arrested manager of UCO Bank, Gondegaon branch, for allegedly defrauding the bank of Rs1.52 crores. The assistant manager of the bank too has been arrested. The police are now looking for a private agent in the case. The manager, Anand Padikar (49) was produced before the court along with assistant manager Shrikant Joshi by the police on Saturday.
  62. 7/23/12:  Suspect in underground bank network arrested – Shanghai police broke up an illegal banking network recently that involved 2 billion yuan ($314 million). The main suspect, identified only as Ge, 41, is accused of illegally making 2 million yuan in two years before he was detained. The underground banking network had more than 20 accounts in Shanghai and Zhejiang, Jiangsu and Guangdong provinces, according to investigators. In 2010, he is alleged to have developed an illegal foreign exchange network, China National Radio reported.
  63. 7/23/12: Former East Berlin Woman Gets Almost 20 Years for Fraud – (Source: Greg Gross The York Dispatch, Pa. (MCT) — A former East Berlin real-estate agent who defrauded mortgage lenders of more than $6.2million by filing false loan applications, then pocketed about $2.3 million of that money, was sentenced to nearly 20 years in prison. Joanne M. Seeley, 42, now of South Carolina, was sentenced Friday to 238 months in prison following a two-day sentencing hearing. Seeley was convicted in November of four counts each of wire fraud and money laundering.
  64. 7/23/12: Irish banker McAteer arrested by Anglo probe fraud squad officers – Willie McAteer is set to become the first banker prosecuted over the collapse of the toxic Anglo Irish Bank in 2008-2009. McAteer, an executive in the former rogue lender, is due in court in Ireland on fraud charges. Anglo’s former finance director was arrested this morning by fraud squad officers investigating financial irregularities at the bust bank.
  65. 7/23/12: Former Financial Services Executive Indicted for Participation in a Conspiracy and Scheme to Defraud Involving Investment Contracts – (Source: FBI) – WASHINGTON—A former financial services executive was indicted yesterday for his participation in a far-reaching conspiracy and scheme to defraud related to bidding for contracts for the investment of municipal bond proceeds and other municipal finance contracts, the Department of Justice announced. The indictment charges Phillip D. Murphy, a former executive for a financial institution, with participating in a wire fraud scheme and separate fraud conspiracies from as early as 1998 until 2006.
  66. 7/24/12: Anglo Irish Bank’s ex-CEO arrested for fraud – DUBLIN – Fraud detectives arrested the former chief executive of Anglo Irish Bank and charged him Tuesday over a conspiracy to hide colossal losses at the bank that brought the nation to the brink of bankruptcy. Forensic accountants found that Anglo provided secret loans to 16 insiders on condition they used the €1.1 billion ($1.35 billion) to buy Anglo stock.
  67. 7/24/12: Former HSBC Employee Falciani Arrested In Spain, Mediapart Says – Herve Falciani, a former software technician at HSBC Holdings Plc’s Swiss private bank who gave client data to a French prosecutor, was arrested in SpainMediapart reported in a summary of an article on its website, without saying where it got the information. Switzerland accuses Falciani of stealing data and breaching banking secrecy, according to the report.
  68. 7/24/12: Arrest of traders for rates manipulation imminent – US PROSECUTORS and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates, according to people familiar with a sweeping investigation into the rigging scandal. Federal prosecutors in Washington, DC, have recently contacted lawyers representing some of the suspects to notify them that criminal charges and arrests could be imminent, said two of those sources, who asked not to be identified because the investigation is ongoing.
  69. 7/24/12: Six Guilty in U.K. Insider-Trading Ring at Banks’ Printers  – Spain and Italy reinstated a short- sale ban on stocks as bank shares plunged to record lows, bond yields rose and the euro traded below its lifetime average against the dollar on concern the debt crisis is growing.  Spain’s CNMV market regulator banned the creation of negative bets on equities through shares, derivatives and over- the-counter instruments for three months. Italy’s Consob prohibited the practice on 29 banking and insurance stocks for one week, citing “grave tensions” in financial markets.
  70. 7/24/12 : Ex-Carlyle Consultant Seeks Probation For Insider Trading – Former A.T. Kearney Inc. partner Sherif Mityas asked to be sentenced to only probation for trading on information he learned as a consultant to the Carlyle Group (CG) about the private equity firm’s 2010 purchase of vitamin maker NBTY Inc. Mityas, who pleaded guilty in March to one count of securities fraud, filed a memorandum inBrooklyn, New York, federal court requesting that a judge impose a three-year term of probation. Federal guidelines point to a sentence of 10 to 16 months in prison, the filing said.
  71. 7/24/12: Local Securities Trader Indicted on Six Year/$2.5M Investment Fraud Scheme– (Source: FBI) – ST. LOUIS, MO—Grahame E. Rhodes was indicted involving an investment fraud scheme of approximately $2.5 million beginning in 1995 through 2011. According to the indictment, Rhodes was a self-employed futures securities trader who solicited clients/investors— mainly family members, neighbors, and friends—by promising them high rates of returns on their investments. The indictment alleges that despite his promises, his investments were minimal and earned little or no return of income. He returned some money to investors representing it to be profits, but it was actually money from new investors. Rhodes allegedly told them he had invested their money when he had not, and delayed requests for withdrawal of their money by creating false excuses to justify the delay. The indictment states that on many occasions he converted the money for his own personal use.
  72. 7/24/12: Former NY Employee of a Financial Institution Pleads Guilty for Role in Fraud Conspiracy – (Source: FBI) – WASHINGTON—A former financial institution employee pleaded guilty today for his participation in a conspiracy related to municipal bonds, the Department of Justice announced. According to the plea proceeding Alexander Wright, engaged in a fraud conspiracy in the municipal finance industry. The New York-based financial institution that employed Wright as a vice president of the municipal derivatives marketing group was a provider of investment agreements as well as other municipal finance contracts to public entities.
  73. 7/24/12: Ashburn Realtor Sentenced to 7 Years for $7M Mortgage Fraud Scheme– (Source: FBI) – ALEXANDRIA, VA—Nadin Samnang, 29, of Ashburn, Virginia, was sentenced today to 84 months in prison, followed by three years of supervised release, for orchestrating a mortgage fraud scheme that involved more than 25 homes in northern Virginia and over $7 million in losses to lenders. He was also ordered to pay restitution to the victim lenders and to forfeit to the United States nearly $1 million in proceeds of his unlawful conduct.
  74. 7/25/12: Former McGinn, Smith, & Co. Inc. CFO Pleads Guilty – (Source: FBI) – ALBANY, NY—The former chief financial officer for McGinn, Smith, & Co. Inc., Brian Shea, 53, of Niskayuna, New York, pled guilty today before United States District Court Judge David N. Hurd to one count of corruptly interfering with the administration of the internal revenue laws. Shea faces up to three years in prison and a $250,000 fine.
  75. 7/25/12: POLICE: Ex-Bank Manager Charged With Exploitation, Forgery in St. Charles– After a six-month-long investigation, a 56-year-old St. Charles woman was charged with financial exploitation of the elderly, forgery and felony theft, police said. Police arrested Lynn A. Pranga, St. Charles, after an investigation revealed the former branch manager of an MB Financial Bank violated a customer’s account by making unauthorized withdrawals of an account between 2009 and 2011. The investigation began Jan. 11 after an elderly MB Financial Bank customer reported to bank officials that his five-year certificate of deposit had been changed to a one-year CD and was worth far less than when it started out. Officials from the bank told the customer that records showed several withdrawals had been made from the account. He denied having made any withdrawals.
  76. 7/15/12: Mexico fines HSBC $28 million in money laundering investigation – MEXICO CITY — Mexican regulators have levied a $28 million fine against the Mexico subsidiary of London-based HSBC bank for failing to prevent money laundering through accounts at the bank.Mexico’s National Securities and Banking Commission said Wednesday that HSBC has paid the fines, equivalent to 379 million pesos, or about half of the subsidiary’s 2011 annual profits. The commission, and a report by a U.S. senate investigative committee, found the bank failed to control suspicious flows of billions of dollars through its accounts and didn’t respond promptly after being warned about a huge swell in dollar cash transactions at the bank.
  77. 7/25/12: 20 People Charged in Puerto Rico for Loan Application Fraud – (Source: FBI) – SAN JUAN—A grand jury returned a 45-count indictment charging 20 individuals with making false statements in loan applications, aggravated identity theft, and money laundering. According to the indictment, defendants Carlos D. Cuevas-Díaz, Miguel Ángel Echegaray-González, and Lee A. Arcia-Centeno conspired and agreed with each other, and with diverse other persons known and unknown to the grand jury, to knowingly make false statements or cause false statements to be made to mortgage lending institutions Equity Mortgage, Latin American, and Express Solution for the purpose of influencing the Federal Housing Administration (FHA) to insure the mortgage loans.
  78. 7/25/12: Throop Man Sent to Jail for Conducting Unlicensed Mortgage Business, Theft– (Source: The Times-Tribune, Scranton, Pa. – In the eyes of the clients he provided mortgages to over several months in 2009, Timothy Tanana was a helpful professional. But in the eyes of Lackawanna County Judge Vito P. Geroulo on Tuesday, the 43-year-old Throop man was simply a “con man.” When it came time for Mr. Tanana to speak for himself before receiving a sentence of 11 to 23½ months in Lackawanna County Prison for theft and conducting unlicensed mortgage business, he dwelled on his mounting bills and gambling addiction. Judge Geroulo, however, pointed out that Mr. Tanana appeared to be trying to “smooth” him just as he had the 17 clients he persuaded to pay a total of $53,137.58 to him in fees – while he was already making a $160,000 salary.
  79. 7/25/12: More Than 1,000 Bilked in Mortgage Modification Scam – (Source: The Press-Enterprise, Riverside, Calif. (MCT) — The operators of a boiler-room telemarketing company, US Homeowners Assistance, were ordered Tuesday, July 24, to pay more than $4 million in penalties for false mortgage modification loan promises made to more than 1,000 customers.
  80. 7/26/12: FL Title Agency Owner Sentenced for Mortgage Fraud Scheme – (Source: FBI) JACKSONVILLE, FL—U.S. Attorney Robert E. O’Neill announces that U.S. District Judge Henry Lee Adams, Jr. today sentenced Cynthia Darlene Strickland (46, Jacksonville) to 18 months in federal prison for bank fraud related to a mortgage fraud scheme. As part of the sentence, the court ordered Strickland to pay restitution to victims in the amount of $531,356. The court also entered a judgment against Strickland for $178,625, which was the amount of money she received as a result of the scheme. Strickland pled guilty.
  81. 7/25/12: Capital One To Pay Millions After Being Charged With Improper Military Foreclosures – WASHINGTON — Capital One has agreed to pay $12 million to resolve allegations the bank violated special consumer protections in federal law for members of the military, the Justice Department announced. The government says Capital One wrongfully foreclosed on some homes and improperly repossessed some cars. In addition, the government says the bank obtained wrongful court judgments against some service members and improperly denied interest rate relief on some credit card and car loans. In a settlement under the Servicemembers Civil Relief Act, Capital One will pay $7 million in damages, including at least $125,000 to each service member whose home was unlawfully foreclosed upon and at least $10,000 to each service member whose vehicle was unlawfully repossessed. Capital One will provide a $5 million fund to compensate service members denied appropriate benefits on credit card accounts, auto and consumer loans.
  82. 7/26/12: 7 Defendants Indicted in Alleged $8.5M Mortgage Fraud Scheme Involving Multiple Lenders– (Source: FBI) – CHICAGO—Seven defendants, including two real estate investors and three licensed loan originators, were indicted today for allegedly participating in a scheme to fraudulently obtain more than 20 residential mortgage loans totaling approximately $8.5 million from various lenders. The indictment alleges that the mortgages were obtained to finance the purchase of properties by buyers who were fraudulently qualified for loans while the defendants allegedly profited. As a result, various lenders and their successors incurred losses because the mortgages were not fully recovered through subsequent sale or foreclosure. All seven defendants were charged with one or more counts of mail fraud and/or wire fraud in a 12-count indictment that was returned by a federal grand jury. The indictment also seeks forfeiture of at least $8.5 million.
  83. 7/26/12: Former Anglo Irish banking chiefs arrested – More high-ranking bankers, including Massachusetts-based former Anglo Irish Bank CEO David Drumm, could be included in later prosecutions in an investigation which started in February 2009.
  84. 7/27/2012: Michael Marin, Ex-Wall Street Trader, Took Cyanide After Guilty Arson Verdict – PHOENIX — A former Wall Street trader who collapsed in court after being found guilty of arson and later died committed suicide by taking cyanide, according to an autopsy released Friday. The Maricopa County medical examiner’s office toxicology tests showed Michael Marin, 53, had the poison in his system. The report also noted an apparent suicide note emailed by Martin shortly before his death and cyanide found in his car afterward. After he was found guilty of arson in June, Marin put his head in his hands and appeared to put something in his mouth. He then drank from a sports bottle.
  85. 7/27/12: Citibank’s Indonesian Scandal Deepens As Convicted Debt Collectors Go Missing – Irzen Octa, an Indonesian businessman, died in a Citibank office under mysterious circumstances last March, while debt collectors were questioning him about money he owed on a Citibank credit card. Now, two of the three collectors convicted in Octa’s death are reportedly on the run from the law. Arif Lukman and Henry Waslinton, who were each sentenced to five years in prison last month for their role in the March 2011 interrogation, have failed to answer a court summons for detention, according to theJakarta Globe. On Wednesday, both men were declared fugitives. Octa, who owed Citibank more than $11,000 at the time of his death, met with third-party collectors on March 28, 2011, in an attempt to negotiate a settlement. He was found dead in the Citibank office that afternoon. Post-mortem reports from various doctors have given his cause of death as asphyxiation, brain hemorrhage and “blunt violence,” according to The Washington. In the past, Citi customers in India have alleged that debt collectors working on behalf of the bank threatened to kill them or remove their organs if they did not pay. A Citi spokeswoman told reporters that these were “isolated cases.”
  86. 7/27/12: CBI arrests banker for Rs 50K bribe– India, PATNA: A CBI team on Thursday caught Samastipur-based Kshetriya Gramin Bank branch manager Shiv Kumar red-handed when he was entering the bank after accepting a bribe of Rs 50,000 from a complainant, Laxmi Sah, a resident of Samastipur.CBI SP B K Singh said a loan of Rs 4.30 lakh under the Pradhan Mantri Rojgar Yojana was sanctioned to Sah for setting up an oil mill. But the branch manager was demanding Rs 70,000 for withdrawal of the loan amount. Sah lodged a complaint with the CBI on July 23, he said.Singh said a CBI team verified the allegation and laid a trap on Thursday. The complainant reached the bank and the branch manager gave him Rs 1 lakh and came out of the bank with him. Kumar gave the complainant an envelope and asked him to put Rs 70,000 into it.
  87. 7/27/12:TD bank denies wrongdoing after court convicts U.S. fraudster in $7B Ponzi scheme– Robert Allen Stanford was the stereotype of a Texas tycoon, oozing the extravagance billions of dollars buys: a fleet of private jets, yachts and helicopters; mansions, castles and a private island; mixing with celebrities and world despots; being knighted and hosting a world sports tournament where he put up the US$20-million purse. At the height of his outsized life, however, his banking empire collapsed and, last month, a U.S. court exposed his US$7-billion fraud, sentencing the 63-year-old to 110 years in prison. Now, attention is turning to the role a respected Canadian bank may have played in allowing Stanford to strip 21,000 investors of their savings.
  88. 7/27/12: Virginia Mortgage Broker Pleads Guilty in $700,000 Fraud Scheme – (Source: FBI) – WASHINGTON—Donald M. Ramsey, 45, a mortgage broker from Alexandria, Virginia, pled guilty today to a charge of conspiracy to commit bank and mail fraud for his part in a scheme that cost lenders more than $700,000.
  89. 7/27/2012: Bankrupt Sean Quinn: I’m scared to go to prison but I won’t back out of it– BANKRUPT businessman Sean Quinn has said he is afraid to go to prison but he won’t back out of it. Last week, a High Court judge jailed the son and nephew of the disgraced businessman for three months after finding failures to adequately comply with court orders aimed at reversing measures stripping multi-million assets from the Quinn family’s international property group. Sean Quinn Junior is currently serving a three month sentence. Peter Darragh Quinn failed to turn up in court and a warrant has been issued for his arrest.
  90. 7/27/12: Barclays Execs Under Another Investigation AND BANK SET ASIDE HUNDREDS OF MILLIONS FOR MISSELLING DERIVATIVES – (NEWSER) – Barclays raised a whole bunch of eyebrows when it released its earnings today—and in the process revealed, among other things, that current and former senior executives were under an investigation totally unrelated to the Libor. UK regulators are looking into whether the bank sufficiently disclosed details of the $11.45 billion cash injection it got from Middle Eastern investors during the 2008 financial crisis, the Wall Street Journal reports. If that weren’t enough, the company also revealed that it had set aside $705 million to cover misspelling of derivatives to small businesses, and that it was facing a number of lawsuits over the Libor scandal. On the call, departing Chairman Marcus Agius apologized yet again for that mess, and said he was working to find his own replacement, along with one to fill the hole left by former CEO Robert Diamond. “It is tempting to find a quick solution,” he said. “It is important that the right selection is made.”
  91. 7/27/12: Foreclosure Prevention Business Owner Pleads Guilty in Major Mortgage Fraud Scheme – (Source: FBI) – WASHINGTON—Carline M. Charles, 41, who operated a business that supposedly would rescue distressed homeowners from foreclosure, pled guilty today to conspiracy to commit bank fraud for her role in a mortgage fraud scheme that cost lenders at least $1 million, announced U.S. Attorney Ronald C. Machen, Jr. and James W. McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office.
  92. 7/27/12: CO Man Pleads Guilty to Scheming Investors Out of $7M for Personal Use– (Source: FBI) – MINNEAPOLIS—Earlier today in federal court, a 37-year-old Colorado man pleaded guilty to scheming investors out of $7 million. Evan Matthew Flaxman, of Silverthorne, Colorado, pleaded guilty to one count of mail fraud in connection to the scheme. Flaxman, who was charged on June 14, 2012, entered his plea before United States District Court Judge Patrick J. Schiltz.
  93. 7/27/12: Former Hedge Fund Manager Receives Over 6 Years in Prison for Being in Charge of Ponzi Scheme – (Source: FBI) – A hedge fund manager was sentenced today in Brooklyn federal court to serve 78 months in prison for running a Ponzi scheme. Ward Onsa, 60, of Naples, Florida, the manager of New Century Hedge Fund Partners LP, was sentenced by U.S. District Judge Dora L. Irizarry. Onsa pleaded guilty in December 2011 to operating the scheme, which resulted in losses to investors of over $3 million dollars. The court also ordered restitution to be paid to the defendant’s victims.
  94. 7/27/12: Man From Ohio Charged with Investor Fraud– (Source: FBI) — A resident of East Liverpool, Ohio, has been indicted by a federal grand jury in Pittsburgh on charges of wire fraud, United States Attorney David J. Hickton announced today. The defendant defrauded three investors by representing that he was a successful currency trader and obtaining $78,000 from them for this purpose and thereafter retaining and spending more than $49,000 for his own purposes, while earning no profits for investors and incurring more than $28,000 in currency trading loses. The law provides for a maximum total sentence at each count of 20 years in prison, a fine of $250,000, or both.
  95. 7/27/12: – SEC, FINRA Enforcement Roundup: $268M Insider Trading Scheme Busted – Charges of insider trading in a secondary stock offering, accounting violations, insider trading around an acquisition and efforts by a phony company president to push a fake penny-stock investment were among enforcement actions taken by the SEC, while FINRA censured and fined a firm for a registered representative’s unsuitable and excessive trading in client accounts.
  96. 7/27/12: Comsys CEO pal charged with insider trading – CHICAGO (MarketWatch) -The Securities and Exchange Commission said Wednesday that it has charged a friend of a CEO of a Houston-based employment services firm with insider trading for using confidential information he learned “while they were spending time together.” Accused is Ladislav “Larry” Schvacho, who the SEC charges illegally made $511,000 by using the information to trade around the 2010 acquisition of Comsys IT Partners Inc. by Manpower Inc. (US:MAN) They claim that he gleaned nonpublic information while Comsys CEO [Larry Enterline] “called other Comsys executives to discuss the acquisition and through confidential, merger-related documents to which Schvacho had access.” He then compiled a portfolio of 72,000 shares of Comsys in the weeks before the acquisition, the SEC said, using all available cash in his brokerage accounts to buy it. Schvacho then sold half of his Comsys shares as soon as the deal announcement was made.
  97. 7/27/12: Ipswich: Santander worker avoids jail over thefts from customer accounts – A BANK worker with a gambling addiction who embezzled more than £12,000 from customers’ accounts has walked free from court after a judge gave him a suspended prison sentence. Sentencing Matthew Farr, 23, who gambled £85,000 away in a 15-month period leading up to his arrest, Judge Rupert Overbury said he had “exploited” his position with Santander bank to systematically steal money from customers’ accounts. “The harm caused by what you have done has not only caused financial loss but also an incalculable erosion of public confidence in the banking system which is particularly serious in these current economic times,” said the judge.
  98. 7/27/12: Kosovan central bank launches sting operation on unlicensed financial institutions – The Central Bank of the Republic of Kosovo (CBK) today (July 27) carried out surprise visits to two locations on suspicion of the conduct of unlicensed financial activity. The operation was approved by the executive board of the central bank shortly before the investigations were launched.
  99. 7/27/12: Traders’ assets frozen in CNOOC-Nexen deal – A federal court on Friday froze the assets of traders accused of trading on inside information ahead of a controversial bid by China’s state-run CNOOC for Canadian oil company Nexen Inc., U.S. securities regulators said. The Securities and Exchange Commission sought the action and said certain traders used accounts in Singapore and Hong Kong to reap more than $13 million in illegal profits by buying up Nexen shares ahead of the deal.
  100. 7/28/12: Two PNB staffers held for accepting Rs 1.8 crore in bribe – Mumbai, Jul 28 (PTI) Two employees of a nationalised bank were arrested by CBI for allegedly accepting a bribe of Rs 1.8 crore in lieu of official favour, the agency officials said today. Manibhushan, senior manager in the Regional Stationary Department Centre of the Punjab National Bank and asset recovery agent Mendiratta were apprehended from here yesterday while accepting the bribe of Rs 1.8 crore from a complainant.
  101. 7/28/12: UK – Six Sentenced for Insider Trading – UBS and JPMorgan print rooms. One of six individuals sentenced on Friday to a total of 16 years in prison for taking part in an insider trading ring has said the JP Morgan Cazenove print room manager allegedly at the heart of the conspiracy avoided prosecutors by fleeing to Northern Cyprus. Ersin Mustafa, a contractor for Xerox running the secure print room in JP Morgan, was accused of playing a pivotal role in sourcing confidential documents from the bank and from UBS where his brother Ali Mustafa worked – his role also involving the confidential printing of market-sensitive documents, many of them linked to corporate takeover plans.
  102. 7/28/12: CT woman sentenced to 8 years for fraud – HARTFORD, Conn. (AP) – A federal judge has sentenced a Washington Depot woman to eight years prison in a fraud case that cheated mostly elderly investors out of $1.9 million. The judge called 55-year-old Robin Brass a “clever and effective con artist” as he delivered the sentence Friday in U.S. District Court in Hartford. Several victims who spoke at the hearing said Brass was a one-time friend who betrayed their trust, stole their life savings and, in some cases, left them dependent on food stamps.
  103. 7/28/12: Barclays needs a total management overhaul – In the past four weeks the bank has been laid low by scandal after scandal. The £290m fine for attempting to rig Libor was followed by what can only be described as the exposure of a diabolical relationship with the bank’s regulator, the Financial Services Authority, whose top executive lashed out against the bank’s “culture of gaming” in testimony before MPs. Then on Friday it got even worse: a £450m bill to pick up the cost of mis-selling interest rate swaps to small businesses, and the extraordinary revelation that its finance director Chris Lucas was being investigated in relation to the rescue fundraising the bank conducted during the 2008 crisis.
  104. 7/28/12: Whitman Trial To Turn On Whether He Knew Of Illicit Tips – Whitman Capital LLC founder Doug Whitman is going on trial for using illicit tips from technology company insiders including one who was a neighbor, a woman at the center of the biggest stock-tipping probe in U.S. history. Roomy Khan, a former Intel Corp. (INTC) executive, is scheduled to be one of the government’s key witnesses at Whitman’s trial that starts July 30 in federal court in Manhattan. Khan twice pleaded guilty to passing inside information to Galleon Group LLC fund manager Raj Rajaratnam – once in 2001 and again in 2009.
  105. 7/28/12: Zambia: Two Nabbed for Money Laundering – A BANKER and a business executive in Chipata have been arrested for alleged theft and money laundering involving more than K300 million. Mike Kabwe, 29, a banker residing at 1806 Chipata Motel and Petros Banda, 39, of farm number 120 Kapara also of Chipata have been arrested and jointly charged with theft and money laundering. In the second offence, Kabwe is separately charged for theft by servant and fraudulent false accounting.
  106. 7/29/12: German accused of pyramid scheme fraud arrested in Las Vegas – (Reuters) – A German man accused of using an Internet pyramid scheme to bilk investors of over $100 million dollars and then going on the run for five years has been arrested in Las Vegas. Ulrich Felix Anton Engler, 51, was arrested on Wednesday for violating U.S. immigration law. Engler is wanted by German authorities on multiple criminal charges after allegedly defrauding several thousand German, Swiss and Austrian investors. If convicted, he faces up to 20 years in prison. Engler is accused of using a Florida-based marketing company to promote another company which falsely claimed it traded in stocks and other securities to lure investors who lost access to their money once it was transferred to the United States.Last year, authorities began to re-examine his case and determined he was running a similar scheme in Nevada under a new name.
  107. 7/29/12: Fake bank operator nabbed in Kano – The police in Kano have arrested one Taofee Adekunle for allegedly operating an illegal Finance House, popularly known as “Wonder Bank”. The state Commissioner of Police, Mr Ibrahim Idris disclosed this while briefing newsmen in Kano on Saturday. The commissioner said the suspect, who had a network of marketers spread all over Kano metropolis, collected a total sum of N5.5 million from 328 victims with the promise to give them credit facility.‘’The method adopted by the fraudster is to ask his victim to pay 20 per cent of the credit facility before he disburses the loan. After collecting the percentage, the transaction stops as he will not disburse the loan as promised.’’
  108. 7/29/12: Ex treasury chief Kutengule speaks out on fertiliser deal – Former Secretary to Treasury, Dr Milton Kutengule, has reacted to a leaked report by Anti Corruption Bureau (ACB) which implicated him in a 2005 fertiliser subsidy deal the bureau claims wasted  $6.9 million (about K2 billion at present exchange rates). Kutengule left the ministry of finance in 2008 in connection with a mysterious  K20 million Credit Scheme Account  he is alleged to have opened at a commercial bank for which he was the sole signatory to all transactions that followed.
  109. 7/29/12: Former Real Estate Developer Pleads Guilty to $16 Million Golf Course Investment Fraud Scheme – SAN JOSE, California – A former real estate developer from Carmel, California, pleaded guilty on Thursday to wire fraud and money laundering arising out of his golf course investment fraud scheme in which he defrauded more than 50 victims. Thomas Joseph O’Meara, III, 65, formerly a Carmel resident now living in Palm Desert, California, admitted in his plea agreement that he carried out an investment fraud scheme. O’Meara recruited individuals to invest more than $16 million.
  110. 7/29/12: Criminals abuse New Zealand’s liberal company laws – WELLINGTON, New Zealand – When American Jeffery Lowrance this month pleaded guilty in federal court to wire fraud and money laundering after running a $25 million Ponzi scheme, he was just the latest in a long list of criminals to take advantage of liberal company laws in New Zealand. Like other criminals before him, he found that for about $130 and a small amount of online paperwork, he could set up a shell company in New Zealand without stepping foot in the country or having any financial presence. He registered First Capital Savings & Loan to an Auckland address but ran his scheme from Panama.
  111. 7/30/12: Iran sentences 4 to death in $2.6B fraud case – TEHRAN, Iran — An Iranian court has sentenced four people to death and given two more life sentences on charges linked to a $2.6 billion bank fraud described as the biggest financial scam in the country’s history, an official said Monday. The trial, which began in February, involved some of the country’s largest financial institutions and raised uncomfortable questions about corruption at senior levels in Iran’s tightly controlled economy.
  112. 7/30/12: Ex-UBS Executives Go To Trial In Bond Bid-Rigging Case – Peter Ghavami, former co-head of UBS AG (UBSN)’s municipal-derivatives group, and two former co-workers were accused by prosecutors of lying and stealing from U.S. cities and towns by conspiring to rig bids for investing proceeds of municipal bond sales. Ghavami and his former colleagues, Gary Heinz and Michael Welty, went on trial today in federal court, charged in a six- count indictment with “long-running conspiracies and schemes to defraud” municipal-bond issuers and U.S. tax authorities by fixing the prices on the investing agreements. Banks have already paid more than $700 million to settle U.S. claims.
  113. 7/30/12: Suspect arrested for involvement in JD500,000 bank fraud – AMMAN — Criminal Investigation Department (CID) personnel on Sunday arrested a man suspected of involvement in a JD500,000 bank fraud and the case was referred to court.According to the Public Security Department (PSD), the manager of the bank’s Shmeisani branch discovered suspicious transfers of large amounts of money while auditing the accounts of several clients.The suspect confessed to carrying out the scam with the help of two others.
  114. 7/30/12: Warning: Dominican Mortgage Assistance Scam Halted by FTC – (Source FTC) – At the request of the Federal Trade Commission, a U.S. district court has halted a nationwide scam operating from the Dominican Republic – but pretending to be in Chicago – that allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the United States.  The defendants promised to dramatically lower homeowners’ monthly mortgage payments in exchange for a hefty upfront fee, and collected more than $2 million in fees during the last three years, but failed to provide homeowners with the promised services, according to the FTC complaint.
  115. 7/30/12: Defendant in Insider Case: I Was Just Doing My Job – One man’s insider trader is another man’s corporate crusader. Or at least that is what lawyers for Doug Whitman plan to argue before a federal jury. Mr. Whitman, a former hedge-fund manager, doesn’t deny that he probed public companies for nonpublic information. But his criminal-defense team plans to argue that its client was doing exactly what he was supposed to do when he persuaded employees of public companies to give him information that those companies’ top brass didn’t want getting out.
  116. 7/30/12: – CIMA investigates HSBC Mexico SA and reviews regs – The Cayman Islands Monetary Authority said it is investigating whether the Cayman Islands branch of HSBC Mexico SA breached any local laws or regulations. The Subcommittee of Investigations of the US Senate released a report earlier this month accusing HSBC of major anti money laundering and compliance weaknesses, which allowed organised crime to launder criminal proceeds. The Subcommittee specifically pointed to a large number of high risk transactions with insufficient anti-money laundering controls involving US dollar accounts held by Mexican residents at HSBC Mexico SA, a class B banking licence holder in the Cayman Islands. The Senate investigation concluded HSBC’s Mexican subsidiary, which operated the accounts in Cayman, did have in many cases incomplete or missing customer records for the Cayman accounts, leaving the accounts open for misuse by organised crime.
  117. 7/31/12: UBS Execs Allegedly Deceived U.S. Cities, Steered Contracts To Friends– NEW YORK, July 30 (Reuters) – Three former UBS executives helped deceive U.S. cities and towns by operating a scheme to rig bids to invest municipal bond proceeds, a federal prosecutor said on Monday at the start of the bankers’ criminal trial in New York. Peter Ghavami, Gary Heinz and Michael Welty were charged in 2010 by the U.S. Department of Justice as part of its broad investigation of the $3.7 trillion U.S. municipal bond market. The probe has focused on rooting out schemes to fix prices and rig bids on bond transactions, and has ensnared some of the world’s largest banks. The three men “steered financial contracts to their friends in exchange for kickbacks and other favors,” Justice Department prosecutor Kalina Tulley told the jury in her opening statement in U.S. District Court in Manhattan.
  118. 7/31/12: Barclays at centre of new police probe after its Italian HQ is raided as rate-rigging scandal spreads to Europe– Barclays Bank was at the centre of fresh police investigation today after documents and emails were seized from the offices of its Italian headquarters. The raids were ordered by prosecutors and took place just before the start of the business day as stunned employees arrived for work to find officers stationed outside the main entrance. Officials said the raid was part of a probe into the possible manipulation of Euribor, the euro-priced counterpart of scandal-hit Libor interbank lending rates. According to sources close to the investigation, records of emails and other documents detailing exchanges of information between Barclays in Milan and London were being looked at.
  119. 7/31/12: Zynga CEO Mark Pincus, Other Execs Accused Of Insider Trading– Zynga is best known as the maker of FarmVille, Words With Friends and a host of other online games. And if the allegations in a new lawsuit prove true, the company’s top brass certainly are playing by their own set of rules. On Monday, the law firm Newman Ferrara filed a class action suit against Zynga, claiming that the company’s executives acted on insider knowledge when, in April, they collectively sold off more than $500 million worth of company shares.
  120. 7/31/12: Foreclosure Prevention Company Owner Pleads Guilty in Major Mortgage Fraud Scheme – (Source: FBI) – WASHINGTON—Carline M. Charles, 41, who operated a business that supposedly would rescue distressed homeowners from foreclosure, pled guilty today to conspiracy to commit bank fraud for her role in a mortgage fraud scheme that cost lenders at least $1 million, announced U.S. Attorney Ronald C. Machen, Jr. and James W. McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office.
  121. 7/31/12: Chicago Man Arrested for Alleged Scheme to Defraud Investors Out of More Than $2M – (Source: FBI) – SAN FRANCISCO—Today federal authorities arrested Michael Steven Banuelos after a federal grand jury in San Francisco indicted him for wire fraud and money laundering resulting from his operation of an alleged investment scheme through which he defrauded investors out of more than $2 million, United States Attorney Melinda Haag announced.
  122. 7/31/12: Washington Depot Woman Sentenced for $2 Million Investor Fraud Scheme – (Source: FBI) – David B. Fein, United States Attorney for the District of Connecticut, announced that Robin Bruhjell Brass, 55, of Washington Depot, was sentenced today by United States District Judge Robert N. Chatigny in Hartford to 96 months of imprisonment (an upward departure over the advisory Sentencing Guidelines range), followed by three years of supervised release, for operating a long-running Ponzi scheme that defrauded investors of approximately $2 million.
  123. 7/31/12: Fund Manager Forks Over $1M To End SEC Insider Trading Suit – Law360, New York (July 30, 2012, 4:42 PM ET) — A New York investment manager and two of his hedge funds agreed to pay $1.1 million to settle allegations that they made illegal insider trades based on nonpublic information about Chinese reverse merger company China Yingxia International Inc., the U.S. Securities and Exchange Commission announced Monday. Investor and former New York Daily News columnist Peter Siris, along with his funds Guerrilla Capital Management LLC and Hua Mei 21st Century LLC, agreed to pay the $1.1 million in disgorgements, interest and penalties to settle a suit formally.
  124. 7/31/12: Insider trading charge for Comsys CEO friend over Manpower acquisition – A friend of the chief executive of IT recruiter Comsys IT Partner has been charged by US regulator the Securities and Exchange Commission (SEC) having allegedly made around $511k (£326k) of illicit provides when Comsys was acquired by Manpower.The SEC has announced Ladislav ‘Larry’ Schvacho as the alleged illegal trader, who purchased around 72,000 shares of Comsys in the weeks before a public announcement of Manpower’s acquisition on 2 February 2010.
  125. 7/31/12: Hong Kong Firm Accused of Insider Trading in U.S. – HONG KONG—The Chinese tycoon behind a company that was implicated in an insider-trading investigation in the U.S. is one of China’s richest entrepreneurs, having first built his wealth in construction materials and real estate during the 1990s housing boom. But the fortunes of Zhang Zhirong, 43 years old and ranked 22nd on Forbes’s China wealth list last year, have fallen sharply since 2011 as the shares of the two Hong Kong-listed companies he controls plummeted amid oversupply in the world’s bulk-shipping market and a downturn in the Chinese property market. According to Forbes, Mr. Zhang’s fortune fell by around 50% to about $2.6 billion in March from a year earlier.
  126. 7/31/12: Insider-Trading Trial Kicks Off for Fund Manager – Prosecutors told jurors Tuesday that a Northern California hedge-fund manager improperly sought out inside information about Google Inc. and other technology firms in hopes of gaining an “edge” over other investors, but his defense lawyer said he had legitimate reasons for doing so. The criminal trial of Doug Whitman, of Whitman Capital in Menlo Park, Calif., kicked off in Manhattan federal court on Tuesday, the latest case in a broad government crackdown on insider trading in corporate America. He has pleaded not guilty to conspiracy and securities-fraud charges. Prosecutors have alleged that Mr. Whitman made almost $1 million over an 18-month period based on confidential information.
  127. 7/31/12: Convicted Insider Trader Matthew Kluger “Shocked” To Find Out He Couldn’t Trust The Guys With Whom He Was Committing Federal Crimes – Remember Matthew Kluger? To recap, he’s the mergers and acquisitions lawyer who spent two decades feeding inside information to convicted insider trader Garrett Bauer, that he picked up from partners at the six different law firms he worked at over the years. The operation, which included Kenneth Robinson, an old friend of Kluger who acted as the tips mule between MK and GB, went very smoothly for a very long time (17 years), and would have continued going smoothly had Robinson stuck with the plan instead of deciding to start making the same trades as Bauer, raising suspicion with SEC, which was watching the men and used “relationship analysis” to determine they were “part of the same trading scheme and had a common source: Kluger.”
  128. 7/31/12: Whitman Capital Founder Traded On Inside Tips, U.S. Says – Whitman Capital LLC founder Doug Whitman made almost $1 million for his hedge fund by trading on tips from criminal associates about Google Inc. (GOOG)Polycom Inc. (PLCM) and Marvell Technology Group Ltd. (MRVL), a prosecutor told jurors. “The defendant and his partners in crime decided the rules of stock trading did not apply,” Assistant U.S. Attorney Christopher LaVigne said today in his opening statement in the insider-trading trial in Manhattan federal court. LaVigne told jurors they will hear testimony from three of Whitman’s sources of illicit information, all of whom have pleaded guilty and are cooperating with the government.
  129. 7/31/12: 6 Asians guilty of insider trading in major UK scam – LONDON: Six British Asians have been convicted of offences relating to insider dealing ring that made a profit of over 730 million pounds between 2006 and 2008 after a four-and-a-half month trial at the Southwark Crown Court, the Financial Services Authority (FSA) said today. The six are Ali Mustafa, Pardip SainiParesh Shah, Neten Shah, Bijal Shah, and Truptesh Patel. The six, who were arrested 2008, are due to be sentenced on Friday. One of the accused, Mitesh Shah, was acquitted of insider trading.
  130. 7/31/12: Prosecutor: Florida cooperator linked to notorious hedge fund boss to testify at NY trial – NEW YORK — A Florida woman with long ties to a one-time billionaire hedge fund founder jailed on insider trading charges will testify at the New York trial of a San Francisco hedge fund operator.Prosecutor Christopher LaVigne told a jury in an opening statement Tuesday that Roomy Khan will testify at the trial of Doug Whitman. Whitman is accused of taking tips from Khan and others to make nearly $1 million illegally since 2007. His attorney told jurors that Whitman did not buy or sell any stock based on insider information.
  131. 7/31/12: Ex-UBS clients get year in prison in offshore tax dodge case – Two former clients of UBS AG were sentenced on Monday to a year and a day in prison, matching what records show as the longest prison term ordered so far in a sprawling investigation of offshore tax avoidance involving the Swiss banking giant. Sean and Nadia Roberts of Tehachapi, California, were also ordered to pay $3.2 million in restitution and fines, the U.S. Justice Department said. He is 77 years old and she is 64. The couple pleaded guilty in 2011 to filing a false income tax return. From 2004 to 2008, they failed to report interest income from millions held in offshore accounts, falsely deducted bank transfers and under-reported income, prosecutors said. One other former UBS client, Richard Werdiger, has received a prison term that long, according to an Internal Revenue Service-maintained list of UBS cases. Other clients have received a combination of probation, home confinement and fines.
  132. 8/1/12: Former Bank Officer Faces Prison, Millions in Restitution for Embezzlement – (Source: Tulsa World, Okla.) – A former bank officer has been sentenced to four years and nine months in prison and ordered to pay millions of dollars in restitution after pleading guilty in what a federal prosecutor called “the largest internal bank theft” in the history of the Tulsa-based Northern District of Oklahoma. Janice Mora Adams, a former senior vice president for private banking and internal control officer of Peoples Bank, stated in court documents that she initiated fraudulent loans and accounts as part of a scheme in which she embezzled funds from May 2004 until February 2010.
  133. 8/1/12: The 3 musketeers of Destiny Group – While the Anti Corruption Commission has already pressed two separated cases against Destiny Group mastermind Mohammad Rafiqul Amin and his gang, the top ranking musketeers of Destiny Group, who became billionaires from being mere paupers, are at the focal point of the cheated investors as well as various intelligence agencies in Bangladesh. It may be mentioned here that, ACC lodged the two separate cases against Mohammad Rafiqul Ami and Lt. Gen [Retired] Harunur Rashid along with 10 others of the fraudulent Multi Level Marketing [MLM] company. They are Destiny 2000 Chairman Mohammad Hossain, its nine directors Gofranul Huq, Sayed-ur Rahman, Mejbah Uddin Swapan, Syed Sazzad Hossain, Irfan Ahmed Sunny, Farah Diba [wife of Mohammad Rafiqul Amin], Jamsed Ara Chowdhury, Sheikh Tayebur Rahman and Nepal Chandra Biswas.
  134. 8/1/12: Malaysian opposition figure arrested for breaching bank law – A senior Malaysian opposition politician, who made a series of revelations on alleged government wrongdoing, was arrested on Wednesday for disclosing bank details related to a high-profile corruption case involving the family of a former minister. The charges against Rafizi Ramli, head of strategy for the opposition Pakatan Rakyat party, adds to a tense political atmosphere ahead of elections that must be held by early next year and which are expected to be closely fought. He pleaded not guilty to charges under the Banking and Financial Services Act in the Shah Alam sessions court. He faces the possibility of a three-year jail term which may scupper his chances of standing for parliament.
  135. 8/1/12: FINRA expels Biremis Corp from securities industry – Biremis Corp, a brokerage that handled U.S. trading for a now-defunct day trading company accused of abuses, has been expelled from the U.S. securities industry along with its chief executive officer,Wall Street’s self-regulator said on Tuesday.Biremis and Chief Executive Officer Peter Beck did not have an adequate supervision program in place for detecting and preventing certain manipulative trading activities between 2007 and 2010, according to a settlement with the Financial Industry Regulatory Authority announced on Tuesday. Biremis, a broker-dealer, was known as known as Swift Trade Securities USA Inc until 2004. Among the problems was a lack of procedures to detect and prevent “layering,” a scheme that involves placing sham orders intended to influence market prices and then canceling those orders. In addition, the company did not have an adequate anti-money laundering program, even though its only business was to execute transactions for day traders worldwide.
  136. 8/1/12: Former UBS bankers cheated cities by rigging bond bids: U.S. – Three former UBS executives helped deceive U.S. cities and towns by operating a scheme to rig bids to invest municipal bond proceeds, a federal prosecutor said on Monday at the start of the bankers’ criminal trial in New York. Peter Ghavami, Gary Heinz and Michael Welty were charged in 2010 by the U.S. Department of Justice as part of its broad investigation of the $3.7 trillion U.S. municipal bond market. The probe has focused on rooting out schemes to fix prices and rig bids on bond transactions, and has ensnared some of the world’s largest banks. The three men “steered financial contracts to their friends in exchange for kickbacks and other favors,”.
  137. 8/1/12: Goldman to pay $26.6 mln in mortgage debt class-action – Goldman Sachs Group Inc has agreed to pay $26.6 million to settle a lawsuit by investors who claimed they were misled into buying securities backed by risky loans from the now-defunct subprime mortgage lender New century Financial Corp. Investors led by the Public Employees’ Retirement System of Mississippi claimed that Goldman’s boilerplate disclosures for the $698 million GSAMP Trust 2006-S2 were false and misleading by failing to reveal how New Century had ignored its own underwriting standards and used inflated appraisals. They also faulted Goldman’s due diligence for failing to find the problems when it bought New Century loans and packaged them into securities for the 2006 offering. New Century went bankrupt the following year.
  138. 8/1/12: MF Global corporate trustee sees return of all customer funds – Customers of the failed futures brokerage MF Global got mixed signals on Wednesday about their chances of recovering all of a $1.6 billion shortfall after two trustees involved in the firm’s liquidation offered different outlooks about their chances of success. In prepared testimony before the Senate Agriculture Committee, former FBI Director Louis Freeh — who is responsible for winding down MF Global’s parent company — told lawmakers he is quite confidence that “all of the customers of MF Global Inc eventually will be made whole.” But James Giddens, the trustee for the broker-dealer unit tasked with recovering customers’ missing funds, offered a less rosy picture, saying legal obstacles to recovering the money still remain. “We very much would like to pay every customer 100 percent, however, it will be a time consuming, difficult uphill battle,” Giddens told the Senate panel.
  139. 8/1/12: Siris, Guerrilla Capital Settle SEC Suit Over China Firm – Fund manager Peter Siris and his Guerrilla Capital Management agreed to pay more than $1.1 million to settle allegations by the U.S. Securities and Exchange Commission of “wide-ranging misconduct” in connection with a Chinese reverse-merger firm. The SEC today announced the settlement with Siris, a former writer for the New York Daily News and author of “Guerrilla Investing: Winning Strategies for Beating the Wall Street Professionals.” The agency also settled with Guerrilla Capital and a related firm, Hua Mei 21st Century LLC.
  140. 8/1/12: Lebanese Bank Case Tests U.S. Privacy Law – A judge’s looming decision in a case that has snarled a fugitive Lebanese woman and eight financial firms could challenge how bank-privacy laws are interpreted in the U.S. Judge Ellen M. Coin of New York State Supreme Court in Manhattan is weighing whether to force banks such as Banco Santander SA, Credit Suisse Group AG, HSBC HoldingsPLC and UBS AG UBSN.VX  to turn over information about private accounts tied to the woman, Rana Koleilat, a former secretary at Lebanon’s Al-Madina Bank who later became one of its top advisers, fled the country in 2005 following her conviction by a Lebanese court of a massive fraud that led to the bank’s collapse in 2003. The New York civil suit, filed earlier this year by Al-Madina’s founder and majority owner, Adnan Abu Ayyash, seeks the recovery of more than $3 billion allegedly stolen by Ms. Koleilat, according to court filings.
  141. 8/1/12: Morgan Stanley Allegedly Participated In Insider Trading In Greek Bank Merger – ATHENS, Greece (AP) — Greek court officials say a prosecutor has brought misdemeanor charges against Morgan Stanley for alleged insider trading in connection with a planned local bank merger. The charges made public Wednesday concern a failed takeover bid for Alpha Bank by National Bank of Greece in early 2011. Morgan Stanley acted as an adviser for NBG in its bid. Court officials said the prosecution followed an investigation into reports that Morgan Stanley bought shares in Alpha during a period from before the merger talks were made public until shortly after they collapsed. The officials said Alpha’s shares gained 33 percent at the time. The charges, if proven, carry a maximum 5-year prison sentence. They did not name specific Morgan Stanley officials, whom a further investigation will seek to identify.
  142. 8/1/12: Last of 12 Mortgage-Fraud Defendants Agrees to Plea Deal – (Source: The Columbus Dispatch, Ohio — The last of a dozen defendants admitted his involvement today in a central Ohio mortgage-fraud scheme. Kevin E. Murphy, 51, of Estate View Drive South near Gahanna, faces up to eight years in prison after pleading guilty to one count of theft. He remains free on bond and is to be sentenced on Sept. 27 by Franklin County Common Pleas Judge Pat Sheeran. Murphy reached a plea agreement with prosecutors as jurors were being selected for his trial. His wife, Mary R. Murphy, 51, pleaded guilty on Friday to one count of theft and two counts of receiving stolen property. The couple was part of a wide-ranging plot to fraudulently obtain mortgages for homes with inflated values. Most of the loans, ended in foreclosure.
  143. 8/2/12: Former Covington Bank Chief Executive Officer Pleads Guilty to Bank Fraud Scheme – (Source: FBI) – NEW ORLEANS—Richard S. Blossman, Jr., age 52, a resident of Covington, Louisiana, plead guilty today before U.S. District Judge Nannette Jolivette Brown to a two-count bill of information alleging one count of bank fraud and one count of false statements, announced U.S. Attorney Jim Letten. He is scheduled for sentencing on November 15, 2012. According to documents filed in court today, Blossman was the chief executive officer (CEO) of Central Progressive Bank, headquartered in Lacombe, Louisiana, in St. Tammany Parish. In December 2011 Central Progressive Bank (CPB) failed and was taken over by the Federal Deposit Insurance Corporation (FDIC). The assets of Central Progressive Bank were then sold to FNBC Bank.
  144. 8/2/12: AmeriFirst Securities Fraud Case Lands Sentence for Seven Defendants – (Source: FBI) – DALLAS—The final sentencing was held today in the massive AmeriFirst securities fraud case, prosecuted in the Northern District of Texas, that has resulted in a total of seven felony convictions and prison sentences up to 25 years, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Today, John Porter Priest was sentenced by U.S. District Judge Barbara M. G. Lynn to one year in federal prison. Priest, 43, of Ocala, Florida, was sentenced by Judge Lynn to one year in federal prison and ordered to pay $4,742,946 in restitution. He pleaded guilty in September 2010 to one count of securities fraud based on his role in the Secured Capital Trust scheme.
  145. 8/6/12: RBS Discloses Talks With U.S. Authorities– Royal Bank of Scotland Plc said Friday that it is in talks with U.S. authorities about its compliance with federal money laundering laws and targeted economic sanctions. RBS disclosed in its half-year report that it was conducting an internal review of its policies and procedures for processing transactions involving U.S. dollar payments and its compliance with U.S. sanctions and money laundering laws. The bank also said it is in discussions with U.K. authorities about similar issues. The disclosure comes on the heels of a cease-and-desist order against the bank issued by the U.S. Federal Reserve Board in July over violations of money-laundering laws. The order required RBS to improve oversight of its U.S. operations and required its businesses in the U.S. and the U.S.-based operations of an RBS Netherlands unit to improve risk-management practices and compliance with laws relating to money laundering, bank secrecy and U.S. economic sanctions.
  146. 8/14/12: Fugitive returns to China to face bank fraud charges– A Vancouver man accused by Chinese authorities of misappropriating more than $150 million while he was a bank manager in China has voluntarily returned to Beijing to face the charges. Gao Shan’s legal counsel, Alex Ning, confirms his client flew to Beijing on his own volition, but would not say when he left. ”He left voluntarily, it was entirely his choice,” said Ning. ”He was not forced to leave, he still has his Canadian permanent residency.” The accusations stem from when Gao was the president of a bank branch in northeast China’s Heilongjiang Province. He is accused of moving illegally-acquired money for Chinese businessman Li Dongzhe, who also turned himself in earlier this year after hiding from Chinese authorities in Canada since 2004.
  147. 8/15/12: Russian banker on Interpol red notice– Russia’s banker and ex president of the Bank of Moscow Andrey Borodin has been put on the Interpol red notice list as Russia is seeking his arrest over financial fraud charges. Borodin fled to the UK last spring hoping to get political asylum in the country. Recently he bought a 140 million pounds estate which was owned by the UK Royal Family.
  148. 8/17/12: Former Morgan Stanley Exec Gets Nine Months in FCPA Case– A former rising star at Morgan Stanley’s Shanghai office was sentenced to nine months in prison Thursday for evading internal controls required by a U.S. foreign bribery law. Garth Peterson, a former managing director in Morgan Stanley’s real estate investment and advisory business in Shanghai, pleaded guilty in Brooklyn federal court in April to one count of conspiring to evade internal accounting controls required under the Foreign Corrupt Practices Act. Prosecutors had previously argued Peterson should receive a minimum jail term of 51 months in prison due to the “gravity of his fraud,” according to court documents.
  149. 8/17/12: Russian Banker’s Money-Laundering Case May Sour U.K. Ties– Russia and the U.K. risk further souring ties as authorities are set to clash over potential money-laundering and bribery charges against a former Russian official at a London-based international lender. Elena Kotova, 57, Russia’s former top representative at the European Bank for Reconstruction and Development, is sought by the U.K. for allegedly conducting a money-laundering operation in both Britain and the U.S. over several years, according to a person familiar with the British investigation, who declined to be identified because the probe is under way. Kotova, who denies any wrongdoing, says she’s unable to leave Russia because of a criminal inquiry by local authorities.
  150. 8/17/12: Deutsche Bank’s Business With Sanctioned Nations Under Scrutiny – Federal and state prosecutors are investigating Deutsche Bank and several other global banks over accusations that they funneled billions of dollars through their American branches for Iran, Sudan and other sanctioned nations, according to law enforcement officials with knowledge of the cases. But the recent clash between New York’s top banking regulator and federal authorities over how to handle a similar case against the British bank Standard Chartered could complicate the investigations. The United States prosecutors worry that the $340 million settlement between the New York regulator, Benjamin M. Lawsky, and Standard Chartered sends a message to international banks and regulators that American authorities are uncoordinated and torn by divisions — since Mr. Lawsky acted alone in leveling the charges and settling the case. They also worry that foreign banks and regulators will no longer readily cooperate in turning over valuable transaction data that reveal the parties behind the global movement of tainted money, according to the federal and state prosecutors who were not authorized to publicly discuss the investigations.
  151. 8/22/12: Shares plunge after banker’s fraud arrest– HA NOI — Shares fell heavily during yesterday’s session as the market reacted negatively to news that Asian Commercial Bank co-founder Nguyen Duc Kien was arrested as police investigate his business activities. Kien currently is one of the 20 richest people in Viet Nam based on stock reports. State Bank of Viet Nam Governor Nguyen Van Binh addressed rumours of Kien’s heavy involvement in Viet Nam’s banking industry and said the State Bank had only received a police report relating to the arrest of Kien based on the fact he had established three companies which had operated illegally.
  152. 8/24/12: Vietnam cbank sees problems contained at scandal-hit bank – (Reuters) – A Vietnamese central bank official said on Friday that problems at a big bank hit by a scandal appeared to be contained, while the country’s stock market regained a bit of the ground lost this week following arrest of one of the bank’s founders. Asia Commercial Bank (ACB) ACB.HN has been rocked by two arrests, of co-founder Nguyen Duc Kien on Monday and then of chief executive Ly Xuan Hai late on Thursday.
  153. 8/28/12: Judge Issues Arrest Warrant For Missing North Philadelphia Bank Manager – PHILADELPHIA (CBS) — A federal judge has issued a bench warrant for a 40-year-old Philadelphia man who allegedly embezzled more than $2 million from a local credit union, causing it to shut down. Defendant Ignacio Morales, former manager of the Borinquen Federal Credit Union, near 7th and Erie in North Philadelphia, was scheduled to be in court today to plead guilty, but he failed to show up.
  154. 8/28/12: Arrests ongoing in massive SoCal bank scam that could top $100M – HUNTINGTON BEACH – An investigation headed by Huntington Beach police and the U.S. Secret Service has rounded up seven people allegedly involved in a massive bank scam with losses of up to $100 million, and more arrests are expected, a sergeant said Monday. A task force served five search warrants last week on the seven suspects, Deon Callis, Kenneth Trapp, Maurice Thompson, Leobardo Cantu, and Larry Mohammad.
  155. 8/29/12: Prosecutors Link Money From China to Iran– Prosecutors say they have unearthed evidence in recent international money-transfer investigations that Chinese banks may have flouted United States sanctions against Iran. Now, as they investigate global banks suspected of funneling billions of dollars through their American branches to Iran and other sanctioned nations, the prosecutors are looking for transactions that could offer more information on the banks’ dealings with Iran. Information on how Chinese banks may have routed money on behalf of Iranian banks and corporations is more valuable than any monetary settlement the authorities could win from the global banks, law enforcement officials with knowledge of the cases said, because the United States could use the information to strengthen its efforts to choke off economic dealings with Iran. The United States has been ratcheting up its sanctions as Iran’s nuclear ambitions raise the risk of military action from Israel and shocks to the global economy. The investigations of two London-based banks, HSBC and Standard Chartered, could prove especially fruitful, said the law enforcement officials, who declined to be identified because the cases are continuing.
  156. 8/29/12: Barclays Probed by SFO Over Qatar Fees – Barclays PLC, the global financial services firm, said the U.K. Serious Fraud Office has launched an investigation into payments under certain commercial agreements between it and Qatar Holding LLC. In a short statement, the bank confirmed an earlier report by Bloomberg Newsthat said the SFO, which investigates and prosecutes white-collar crime and corruption, was about to look into payments made in 2008 to Qatar’s sovereign wealth fund as the firm sought to raise money.
  157. 8/30/12: Former bank manager’s trial begins – The trial of a former bank manager accused of stealing more than $60,000 from bank customers began Tuesday, with the assembled jury hearing opening statements and several witnesses called by the state. All totaled, Sherri Whitlock Hines, has been charged with seven counts of theft by taking and five counts of identity fraud.
  158. 8/30/12: SEC Set to Charge Former Stanford Executives – WASHINGTON–The U.S. Securities and Exchange Commission is set to charge former executives of convicted fraudster R. Allen Stanford’s financial empire with civil securities violations. The SEC will announce the charges as soon as Thursday against the Stanford Group Co.’s former president Danny Bogar and former chief compliance officer Bernerd Young in connection with the $7 billion Ponzi scheme carried out by Mr. Stanford. Other former company officials may also be charged. In March, Mr. Stanford was found guilty of stealing billions of dollars of investor money and investing much of the money in unprofitable private businesses he controlled. He was sentenced to 110 years in federal prison in June. Federal prosecutors and the SEC charged Mr. Stanford in 2009 with fabricating high returns to lure investors around the world to buy about $7 billion of fictitious certificates of deposit from Stanford International Bank Ltd. in Antigua, the island where he was knighted.
  159. 8/31/12: Swiss probe UBS over alleged Malaysia money-laundering – Aug 31 (Reuters) – Swiss prosecutors have opened a criminal money laundering probe into UBS after an environmental campaign group filed a complaint accusing it of links to the proceeds of alleged illegal logging in Malaysia. The investigation could be a new embarrassment for the Swiss bank, fined for helping clients dodge U.S. taxes in 2009 and facing similar accusations – which it denies – in Germany. It comes as Switzerland is trying to clean up its image as a haven for ill-gotten gains. A spokeswoman for federal prosecutors said they had opened a criminal investigation into allegations of money laundering.
  160. 9/3/12: Banks face risk of losing credibility –  Korean banks face losing credibility as irregularities and mishaps rise and the number of punished financiers has more than doubled from a year earlier. The credibility of South Korean financial institutions has been marred by corruption and bad business practices, including banks’ alleged fixing on rates on 91-day certificates of deposit (CD), a benchmark money market rate for household lending. The country’s antitrust watchdog has been investigating local brokerage houses and banks over alleged collusion of rigging CD rates after those rates appeared to be stuck at the same level for about three months despite falls in other market rates. As of Aug. 10, 447 officials had been disciplined for misconduct found via inspections by the Financial Supervisory Service (FSS), more than doubling from 222 the previous year. A high-ranking official at Woori Bank was arrested recently and faces trial on charges of embezzling around 3.1 billion won ($2.74 million) of customers’ money. Top lender Kookmin Bank was found to have manipulated documents on home loans and Shinhan Bank used to give discriminatory spread on lending rates after reviewing borrowers’ academic backgrounds.
  161. 9/5/12: Fort Lauderdale attorney and two felons ran $20 million investment fraud, feds say – A longtime local attorney and two convicted felons conspired to defraud more than $20 million from investors who entrusted their money with a Fort Lauderdale commodities firm, federal prosecutors announced Wednesday. Michael R. Casey, who has practiced law in Fort Lauderdale for 36 years, was arrested Wednesday morning, charged with nine counts of fraud for his role with Commodities Online, according to federal authorities. Casey, 65, of Oakland Park, is a past chairman of the Corporation, Banking and Business Law Section of the Broward County Bar Association and spent time with six different law firms, most recently as a partner at the now-shuttered Adorno & Yoss.
  162. 9/6/12: House arrest for role in $14M fraud scheme– TORONTO – An Iranian man who took part in defrauding taxpayers of $14 million from the Business Development Bank of Canada has been sentenced to two years of house arrest for his role in the scam that employed a bribed banker. Victor Abedi, 45, was ordered to repay $50,000 and serve 24-months of community arrest by an Ontario Court of Justice on Aug. 27 after pleading guilty to four offences “relating to his involvement in a large scale, very well organized fraud.” Court heard the sophisticated fraud was organized by a long-time friend of Abedi, Varuj Mehrabian, who also plead guilty in an agreed statement of facts.
  163. 9/6/12: SEC Enforcement Roundup: Radio Financial Guru Charged– Recent enforcement actions taken by the Securities and Exchange Commission (SEC) include charges against a California man who tipped off a hedge fund manager with inside information; three men in a $27.5 million investment fraud case; a China-based company over fraud via phony sales that inflated revenues; a PR executive who took advantage of knowledge of a client’s firm to engage in insider trading; a financial guru and radio personality who misled investors about an investing plan; and an advisor who failed to disclose revenue sharing agreements. The SEC charged Ray Lucia Sr., a nationally syndicated radio personality and financial advice author, for spreading misleading information about his “Buckets of Money” strategy at a series of investment seminars that he and his company hosted for potential clients.
  164. 9/10/12: RO159,000 seized from bank staffer [Times of Oman] – Muscat: An accountant at one of the commercial banks in the Sultanate was arrested on charges of misappropriating funds. Earlier, the General Administration of Criminal Investigations had received a report from the bank that the accused was involved in misappropriating money from the bank.
  165. 9/10/12: Another UBA bank manager arrested,charged to court for fraud– The Economic and Financial Crimes Commission, EFCC, on Friday, September 7th, 2012, arraigned a Business Manager with the United Bank of Africa Plc, University of Ilorin Branch, Sirajudeen Abdullahi alongside two others: Segun Adelodun and John Afolabi before a Kwara State High Court sitting in Ilorin. Nigerians are still worried about the the inability of the Group managing director of bank, Mr. Phillip Odozua inability to curb the high level of fraud that is being perpertuated by staff of the bank.
  166. 9/10/12: Former “Capital bank” sub-office chairman and several people arrested in courtroom – Baku. Shahriyar Alizadeh – APA. The suit over Principal Shola Gulmaliyeva, as well as Rafig bayramov, the former chairman of # 1 sub-office of “Capital bank” situated in Binagadi district and his deputy Suleyman Abayev, the bank’s executives Rashad Hasanov and Salim Aslanov and the notorious of State Notary Office # 32 Ziyafat Mirzayev’s criminal case has been started. Shoal Gulmaliyeva is accused of stealing large amount of money. APA reports that giving testimony during the process, Sh.Gulmaliyeva said that she was partially guilty. During the hearings Rafig Bayramov, Suleyman Abayev, Eashad Hasanov as well as Salim Aslanov and Ziyafat Mirzayev were arrested in the courtroom.
  167. 9/10/12: SEC Issues Enforcement Action Against Asset Manager Over False Performance Claims – The Securities and Exchange Commission has announced an emergency enforcement action against an asset manager who has boasted remarkable investment success throughout the global financial crisis while allegedly exaggerating the value of the assets he manages and concealing major losses from investors. The SEC alleges that Nikolai Battoo claims to manage $1.5bn on behalf of investors around the world, including at least $100m for U.S.-based investors. But contrary to Battoo’s proclaimed track record of exceptional risk-adjusted returns for his investors, he actually suffered major losses in 2008 due to his investments in the Bernard Madoff Ponzi scheme and a failed derivative investment program. By boasting benchmark-beating returns, he has continued to attract new investors. However, during the past several months, investors have requested redemptions on their investments with Battoo. Instead of paying them, Battoo has provided a series of excuses ranging from the MF Global collapse to others placing a hold on investors’ money due to government investigations.
  168. 9/11/12: UBS’ Kweku Adoboli $2.3bn Fraud Trial Begins– VENTURES AFRICA – The trial of Kweku Adoboli – Ghanaian born ex-trader for UBS bank in London – has started, with the swearing in of the jury at Southwark Crown Court in London yesterday.  Adoboli is charged with causing the Swiss bank to lose $ 2.3 billion through his unauthorised activities – making this the biggest banking case ever heard in London. Adoboli, 32, worked on the Exchange Traded Funds (ETFs) desk, and thereafter on the global synthetic equities desk, part of the investment banking branch of the UBS’ operation in London.  It is alleged that during the period of 1st October 2008 to 1st June 2011 Adoboli personally caused the bank a loss of $2.3 billion through his fraudulent practices; as such he is facing four charges: two for fraud and two for falsified accounting over the course of the specified – almost three-year –  time-frame.
  169. 9/12/12: ACC to quiz 31 more Sonali Bank officials – The Anti-Corruption Commission (ACC) will interrogate 31 more Sonali Bank officials for their alleged involvement in the Hall-Mark loan scam. “It is a huge scam; apart from the Sonali Bank officials, many others are involved in the swindle,” said ACC Secretary Faizur Rahman Chowdhury. Earlier, the anti-graft body had questioned 31 Sonali Bank and Hall-Mark officials concerning the scam after a Bangladesh Bank investigation found that the Ruposhi Bangla Hotel branch of Sonali Bank had lent Hall-Mark Group and five other companies Tk 3,547 crore between 2010 and May this year on forged documents.
  170. 9/12/12: Bank manager’s house raided; cash, jewellery worth lakhs recovered– JODHPUR: A raid in the house of SBBJ manager (Shergarh branch) Rajesh Panwar, who was caught red handed taking bribe of Rs 20,000 by the anti-corruption bureau on Monday, led to recovery of cash, jewellery and investment documents much to the awe of the investigating ACB officials. Panwar was produced in court on Tuesday and sent him to judicial custody till September 24.
  171. 9/13/12: Pair arrested in $70m bank loans racket – Two elderly businessmen have been arrested in Macau for allegedly conning 10 banks in Hong Kong out of HK$70 million over the past six years. The men are said to have obtained loans from the banks through two companies in Hong Kong and then wired the money to Macau, where it was then transferred back. Police said yesterday the men, identified only as Wong, 68, and Lau, 82, were involved in cheating the banks to grant them loan credits of up to HK$300 million, resulting in them losing the HK$70 million. The two businessmen are proprietors of two of the four trading companies involved, a spokesman for the Macau Judiciary said.
  172. 9/19/12: Convicted Puyallup banker kept reserves in stacks of $100 bills– For most of us, our folded up money fortunes consist of a few greenbacks stashed in our wallet or purse. But for convicted Puyallup mortgage banker Shawn Portmann, his cash reserves consisted of thousands of dollars in neatly packaged bundles of $100 bills stored in a home safe. Portmann, one of the nation’s highest-flying home loan originators during the middle of the last decade, Tuesday pleaded guilty to two federal fraud charges. Portmann admitted to falsifying loan documents regarding borrowers employment, income and debts in order to generate loans for Pierce Commercial Bank.
  173. 9/27/12: Ex-Credit Suisse manager held for subprime fraud – A former senior Credit Suisse trader has been arrested in London and faces extradition to the United States on fraud charges involving subprime mortgage bonds worth $3 billion (SFr2.82 billion). The arrest of the banking group’s former global head of structure credit trading marks an apparent victory for US prosecutors, who earlier this year won convictions against two of the his former colleagues. The prosecutors have been waiting for nearly eight months for the 39-year-old man, an American and British citizen, to return to the US to face charges. Prosecutors said the former Credit Suisse employee was the most senior banker charged in a scandal dating back to 2007, in which mortgage-backed securities traders were caught trying to cover up $540 million in losses on their books.
  174. 9/27/12: Vietnam probes ex-minister as banking scandal grows – Police are probing a former minister and ex-chairman of Vietnam’s Asia Commercial Bank, state media said Thursday, as a scandal sparked by the arrest of the bank’s multi-millionaire founder grows.  Tran Xuan Gia, who was minister for planning and investment from 1996 to 2002 and the ACB’s chairman from 2008 until he resigned last Wednesday, is being kept under house arrest, Lao Dong newspaper said on its website. The 73-year-old is being investigated alongside three other deputy chairman at ACB for their alleged involvement in illegally approving the deposit of $34 million into other banks, the report added. The $34 million was then reportedly stolen by other bankers, at least two of whom have also been arrested on suspicion of banking fraud, the report said without giving further details.
  175. 10/1/12: Ex-Deutsche Bank Broker Among Four Charged in Insider Case – Former Deutsche Bank AG managing director Martyn Dodgson was among four people charged with insider trading by U.K. authorities after an investigation spanning two-and-a-half years. Dodgson, who was employed by Deutsche Bank at the time of his arrest in March 2010, as well as Andrew HindBenjamin Anderson and Iraj Parvizi were charged with “conspiracy to insider deal” between Nov. 1, 2006, and March 23, 2010, the Financial Services Authority said today in an e-mailed statement. The agency alleges the men made more than 3 million pounds ($4.8 million) on improper trades.
  176. 10/1/12: Kentucky man arrested in NY bailout fraud probe – NEW YORK (AP) — A Kentucky businessman was arrested Monday in a $100 million scheme that contributed to the collapse of a bank and tried to drain money from the federal bank bailout program before some funds were used to pay his mortgages and to buy designer clothing, jewelry and luxury cars, authorities said. Wilbur Anthony Huff, 51, who has addresses in both Caneyville and Louisville, was released on $100,000 unsecured bond after a brief court appearance in federal court in Louisville in which prosecutors portrayed him as a flight risk. Along with two alleged accomplices arrested in New York, Huff faces various charges, including conspiracy to commit bank bribery, bank and insurance fraud, and tax evasion.
  177. 10/1/12: Pamela Kay Cobb, Former Bank Of America Employee, Sentenced To Prison For Stealing Millions– Pamela Kay Cobb, 30, a former Bank of America branch manager, was sentenced on Wednesday to five and a quarter years in prison for stealing more than $2 million from customers. Cobb also was ordered to pay more than $1.1 million back to her victims.Bank of America’s branch in River Oaks, Tex., which Cobb managed, lost more than $1 million to her nine-year scheme. Cobb used the money to pay for vacations, clothes, jewelry and land purchases.According to the press release, Cobb filed fraudulent withdrawal slips and forged customers’ signatures; she also withdrew cash through her tellers. She never stole more than $10,000, in order to avoid federal reporting requirements.Cobb pleaded guilty to the federal government’s charges in March of 2012.In order to maintain her customers’ trust, Cobb targeted customers that she had known for a while; if a customer complained about a fraudulent transaction, she refunded the money immediately with money stolen from other customers’ accounts.
  178. 10/2/12: UT Boss To Be Arrested – The Chief Executive Officer (CEO) of UT Bank and Financial Holdings, Captain (rtd) Prince Kofi Amoabeng, who is at the centre of a property fraud, pending before an Accra Circuit Court, is expected in court tomorrow or risk a bench warrant being issued for his arrest. The ex-accountant of the Ghana Armed Forces has proved very evasive in answering the criminal charges including forgery of documents brought against him by a 53-year-old queenmother of Akropong in the Eastern Region, Nana Otua Owusua I, for illegal disposing off her property, called “Naa Otua Plaza” at Osu-Accra.
  179. 10/2/12: Ex-SAC Capital Manager Tells FBI Fund Used Insider Information – A former SAC Capital Advisors LP portfolio manager told the FBI it was “understood” that those assigned to give their best trading ideas to founder Steven A. Cohen would provide him with insider information, according to an agent’s notes of the conversation. Michael Steinberg, a portfolio manager at SAC’s Sigma Capital Management unit implicated in insider trading, has been placed on leave by SAC, a person familiar with the matter said. He is an unindicted co-conspirator related to the case against Jon Horvath, a former SAC analyst he supervised, people familiar with the case said last week. Horvath pleaded guilty Sept. 28 to being part of a “criminal club” of fund managers and analysts who made $62 million by swapping nonpublic information about technology companies. Steinberg hasn’t been charged with a crime. Freeman and another SAC fund manager, Donald Longueuil, were accused last year by prosecutors in the office of Manhattan U.S. Attorney Preet Bharara with being part of an insider- trading scheme while at SAC.
  180. 10/2/12: Former Wachovia Banker Sentenced in $11 Million Mortgage Fraud Case – A former banker was sentenced today for her role an $11 million mortgage fraud scheme involving homes on Smith Mountain Lake, Va. Mary Novak Thompson, who worked as a financial specialist at the former Wachovia Bank, was sentenced in Lynchburg’s federal court to one day in prison and three months of house arrest, according to the U.S. Attorney’s Office. Thompson, 44, of Bedford County, pleaded guilty earlier to making a false statement for the purpose of influencing a mortgage lender. ”Ms. Thompson used her position at Wachovia Bank to facilitate a substantial mortgage fraud scheme,” U.S. Attorney Timothy Heaphy said in a news release.